Chapter 7 is the most frequently selected kind of bankruptcy for individuals. The debtor receives a discharge of most unsecured debts within several months of filing the case. Most debts are dischargeable. A few debts including support, alimony, some taxes, and most student loans are not dischargeable.
Attorney Robert Ascenzo Ciotola is a Board Certified Specialist in consumer bankruptcy law by the American Board of Certification with 42 years experience representing over 35,000 bankruptcy clients with 19 convenient offices.
Foreclosure
An important and frequent use of Chapter 13 is to stop a home foreclosure and repossession. Often a mortgage company says to a debtor “Pay all the months you have missed or we will foreclose on (take) your home.”