What is the difference between a chapter 7 and chapter 11 bankruptcy?

Bankruptcy in Oregon, What is the difference between Chapter 13, 11 and 7?

  • Answer:

    Bankruptcy if federal - same in every state chap 7 wipes out all debts chap 13 requires partial payment of debts depending on your income if most of your debts are credit cards/loans, you might not be allowed to do chap 7 anymore chap 11 is for businesses as far as i know

Bonnie Mays at Yahoo! Answers Visit the source

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