Interview: Is Chapter 7 or Chapter 13 the Best Option?
Chapter 13 and Chapter 7 are the most common forms of bankruptcy available to consumers. What are the big differences between the two? Which type of bankruptcy is best for your situation?
We spoke to David Shuster, a bankruptcy lawyer based in Dallas - Forth Worth. He explains what those in dire financial straits need to know about the different types of bankruptcy.
Topics covered in this video:
- Do your clients know which type of bankruptcy to file when they walk into your office
- Who is eligible for Chapter 13? What about Chapter 7?
- What is the means test?
- What are the benefits of Chapter 7 versus Chapter 13?
- Are some debts covered under Chapter 13 that are not covered under Chapter 7?
- How long does it take to process Chapter 13?
- Can you transfer from one form of bankruptcy to another?
- Do you need an attorney help you convert your bankruptcy case from one chapter to another?
- Is student loan debt dischargeable under Chapter 7 or Chapter 13?
- How can you tell which type of bankruptcy is best for you?
Disclaimer: This video is for informational purposes only. In some states, this video may be deemed Attorney Advertising. The choice of lawyer is an important decision that should not be based solely on advertisements.