“General Unsecured” Debts Discharged in Chapter 7
In most straightforward Chapter 7 cases all debts not secured by any collateral are discharged--forever written off. You pay nothing on them.
A Second Mortgage “Strip” through Chapter 13
"Stripping" off a second mortgage has major immediate and long-term benefits.
The 3 Kinds of Debts
Your debts can be "secured," "priority," or "general unsecured." How bankruptcy treats your debts depends on which kind they are.
A Fresh Start on Your Vehicle Loan through Chapter 13 “Cramdown”
If your vehicle is worth less than you owe, Chapter 13 "cramdown" can reduce your monthly vehicle payment and the total you pay on the loan.
Bankruptcy Timing: Filing in 2016 to Write Off More Income Taxes with Chapter 13
With Chapter 13 you may have to pay some part of the taxes that you could just discharge under Chapter 7, but it may be worth it.
Making Sense of Bankruptcy: “Secured,” “Priority,” and “General Unsecured” Debts
Bankruptcy is about debts, and about how your different kinds of debts are handled under either Chapter 7 or Chapter 13.
Making Sense of Bankruptcy: The Chapter 13 Payment Plan
Chapter 13 is all about what you can and can't do with your creditors in your court-approved plan.
Crucial Question: Why File Under Chapter 13 If You Have to Pay Something to Your Creditors Instead of Paying Nothing Under Chapter 7?
Chapter 13 has huge advantages in many situations, often making any extra cost well worthwhile.
Crucial Question: How Much Do You Pay to Your Creditors in a Chapter 13 Case?
Under Chapter 13 some special creditors may be paid in full, while others are paid much less, sometimes even nothing. What determines this?
The Extraordinary Tools of Bankruptcy: Getting Out of Your Vehicle Lease through Chapter 13
Chapter 7 gets you out of a vehicle lease quite cleanly. But if you have to file a Chapter 13 case for other reasons that can work, too.
Attacking Your Debts with Chapter 7 vs. with Chapter 13
Chapter 7 deals with some debts better than does Chapter 13. But Chapter 13 deals with some other debts better than Chapter 7. So what kind of debts do you have?