Quick Map: Chapter 7, 13, and 11
Recall the core purpose and first question for Chapters 7, 13, and 11.
comparison Chapter map Chapter 7 vs Chapter 13: what is the practical difference? Use this compare card to avoid saying both chapters simply wipe debt. Recall What is the first Chapter 7 constraint question? What nonexempt property, liens, transfers, and discharge limits could change the outcome? Chapter 7 starts with liquidation and disclosure, not a promise that every asset and debt disappears. What is the first Chapter 13 constraint question? What regular income can fund the plan while ongoing obligations stay current? A Chapter 13 plan must work over time; the stay is only the beginning. Objection A business owner…
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