Chapter 7 vs 11 vs 13 Bankruptcy

Рет қаралды 1,978

Күн бұрын

Bankruptcy Chapter 7 vs 13 vs 11 can be really confusing. Chapter 7 vs Chapter 13 Calculator: bit.ly/3iNm8wz
One bankruptcy type can cost $1,500 and one option can cost over $40,000 in attorney fees. What types do most individuals pursue?
The most common consumer bankruptcies in the United States are Chapter 7 and Chapter 13, so we build a Chapter 7 vs Chapter 13 calculator to help you compare costs and durations and pros and cons. The calculator is based on the bankruptcy forms and specific to your city and state.
Chapter 11 bankruptcies are often business bankruptcies and some individuals whose debt may exceed the Chapter 13 bankruptcy debt limit (tryascend.com/blog/chapter-13....
Here are some resources that may help:
Chapter 7 vs Chapter 11 Bankruptcy: tryascend.com/blog/chapter-7-...
Chapter 11 Reorganization Plan Example: tryascend.com/blog/chapter-11...
Chapters:
0:00 Intro
2:10 Bankruptcy Overview: Chapter 7 vs 13 vs 11
4:22 Bankruptcy Cost
8:23 Bankruptcy Duration
9:10 Credit Score and Report Impact
10:30 Pros and Cons of Bankruptcy
12:17 Which Chapter Should You File: Bankruptcy Chapter 7 vs 13 vs 11?
12:28 Conclusion
#chapter7 #chapter13 #chapter11 #bankruptcy
Music: www.bensound.com

Пікірлер: 8

@AscendFinance 3 ай бұрын

Thanks for watching! As I mentioned, you can take the Chapter 7 vs Chapter 13 Calculator here: tryascend.com/qualify/bankruptcy/ch7/vs-13-start/route/youtube7vs11vs13 If you have any questions, feel free to give us a call at 833-272-3631!

@NormaCastillo-ee4zo Ай бұрын

What about credit cards which chapter

@lorettamccoy5570 2 жыл бұрын

I'm an 81 year old, and have a pickup that I Co- signed on for grand daugher. Her balance is still over $41,000 since the old was not pd for they put in on top of the new pickup. She cannot pay for it and I'm on SS and I can't pay either. I have not even been in the pickup. What can I do? Loretta

@AscendFinance 2 жыл бұрын

Hey Loretta, I am so sorry to hear about this situation. If you are only on SS, that income may be protected against any actions the creditor takes (source: www.ssa.gov/OP_Home/rulings/oasi/41/SSR79-04-oasi-41.html ). That said, your granddaughter may not be protected, so she can look at what options she has as if they repo the truck, then it may be likely that they will sue her for the difference of the amount she owes and the amount they get at auction which can be thousands of dollars. If she'd like to learn about her options, she can take our free calculator at tryascend.com. If you would like to still do something even though the debt is protected, please let me know. Sorry again, Loretta, and I hope you can get this resolved soon.

@jolynnlewis7573 3 ай бұрын

If someone ends up in a position to where they are in debt and find themselves struggling and trying to find help . How is bankruptcy helping when y’all are charging crazy amounts when we can’t even cover the debt we currently have how can someone pay these fees! It put majority of us in a bad position!

@AscendFinance 3 ай бұрын

Hi! Great question. A chapter 7 can actually be a great option for some people because it discharges the debt, is the cheapest and fastest option, and yes it hurts your credit but you can rebuild after. A chapter 7 doesn't have additional fees besides the single attorney fee. A chapter 13 is more expensive but again, it can be great depending on your situation.