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Old 03-23-2010, 10:51 AM   #1 (permalink)
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7 or 13

If someone does not meet the "means test", is chapter 13 the best way to proceed? How do the two filings differ? What is chapter 11? I live in MI.
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Old 03-24-2010, 11:32 AM   #2 (permalink)
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Chapters 7 or 13 Bankruptcy

I'm sure some folks will be along to follow up with more detailed responses but you may be interested in reading these 3 articles that address your situation.

Bankruptcy Means Test
--> "If your disposable income is too high, the Bankruptcy court may decide that you can pay off at least some of your debts, and prevent you from filing for Chapter 7 bankruptcy. You are still able to file Chapter 13 bankruptcy, however..."
Bankruptcy Advantages and Disadvantages
Chapter 11 Bankruptcy
Chapter 13 Bankruptcy

Best of luck.
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Old 10-14-2013, 04:49 PM   #3 (permalink)
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Chapter 7 and 13 are consumer bankruptcies. Chapter 7 is when you have nothing left and Chapter 13 is when may have something. Chapter 11 is for businesses.

Here are links explaining the various bankruptcy chapters.

http://www.legalmatch.com/law-librar...ankruptcy.html
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