Legal Question in Bankruptcy in New York
Difference between the Chapter 7, 11 & 13
What is the differense between Chapter 7, Chapter 11 and Chapter 13 banruptcy? If one person files bankruptcy does it also effect the credit history of the spouse even if they hold joint bnk account?
Asked on 10/05/01, 12:26 am
1 Answer from Attorneys
Savyon Grant
Law Office of Savy Grant
Re: Difference between the Chapter 7, 11 & 13
Chapter 7 is liquidation.
Chapter 11 & 13 is reorganization.
11 is usally used for businesses & 13 for individuals.
If you are interested in filing bankruptcy, I can further discuss you options & the risks with you. I can be reached at 201-646-9600.
Savy Grant
Attorney at Law
Answered on 11/24/01, 10:43 pm
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