Legal Question in Criminal Law in Texas
If you have file bankrupcy which is better Chapter 7 or 11
Asked on 6/06/12, 12:27 pm
1 Answer from Attorneys
Keith Engelke
Law Office of S. Keith Engelke
In a 7, you lose all your non exempt property but your debts are discharged quickly. A chapter 11 is generally for businesses. Chapter 13 is like chapter 11. There your debts are discharged after you complete a reorginazation plan which usually takes 5 years.
Answered on 6/07/12, 6:32 am
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