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Chapter13bankruptcy is an invaluable financial tool for those struggling with overwhelming debt, and it can pave the way for a fresh start. Unlike Chapter 7 , Chapter13bankruptcy allows you to avoid liquidating your non-exempt assets. What Is a Chapter13Bankruptcy Filing?
Bankruptcy is a legal process designed to help people overcome financial challenges. It comes in different forms, notably Chapter 7 and Chapter13. How Does Chapter 7 and 13Bankruptcy Affect My Medical Bills? Chapter 7 and Chapter13bankruptcies can have different effects on medical bills.
The remaining qualifying debts are discharged, meaning you are no longer responsible for paying them back. Chapter13bankruptcy sets up a 3-5 year repayment plan to pay back a portion of what you owe. At the end of the plan, any unpaid balances on the qualifying debts are discharged.
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