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LegalCornerTM - Bankruptcy Basic Facts F.A.Q.'s

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Q.What's the difference between a Chapter 7 Bankruptcy and a Chapter 13 Bankruptcy?

A.In a Chapter 7 bankruptcy, you are requesting the court to relieve you of ALL your debts, so you have a clean slate (except some non-dischargeable debts). In the Chapter 13 bankruptcy, you provide the court with a proposed payment plan to pay off your creditors over 5 years.

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