Legal Question in Bankruptcy in Florida

chapter 7 vs chapter 13 ?

My question is regarding what sort of criteria generally exists between somoene's debt/income in determining whether someone can do a Chapter 7 or be forced to do a Chapter 13. Someone's living expenses is also a factor in this? What general guidelines exist with this issue?

thank you


Asked on 6/20/04, 12:42 pm

2 Answers from Attorneys
Carol Lawson Carol A. Lawson, PA

Re: chapter 7 vs chapter 13 ?

A number of factors are involved such as your income, assets,, and expenses. For Example: In Chapter 7 not paying your credit cards your reasonable living expenses are in excess of your income. n Ch 7 you are only allowed to keep $1,000 worht of personal property.

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Answered on 6/20/04, 2:32 pm
Edward J. Chandler Law Office of Edward J. Chandler, P.A.

Re: chapter 7 vs chapter 13 ?

There are many issues to consider and the criteria have changed.

Edward J. Chandler, Esq.

954-788-1355

Edward Chandler

Law Office of Edward J. Chandler, P.A.

708 East Atlantic Boulevard

Pompano Beach, FL

33060

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Answered on 6/20/04, 9:20 pm


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