As people find themselves behind on their mortgage payments, credit card bills, car loans and other bills, many wonder whether bankruptcy is a viable option to help get a handle on financial matters. … Perhaps one of the biggest advantages of a Chapter 13 bankruptcy is that homeowners may be able to keep their homes out of foreclosure. Once the homeowner files the petition with the bankruptcy court, the lender will not be able to foreclose on the home. …
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Bankruptcy: The Differences Between Chapter 7 and Chapter 13