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This is a discussion on Bankrupsy within the Mortgage Problems and Solutions forums, part of the Mortgage and Loans Forum category; So our lawyer suggested chapter 13 bankrupsy for the failing of our business and possible foreclosure. I was looking up ...

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07-14-2008, 05:30 PM

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Bankrupsy

So our lawyer suggested chapter 13 bankrupsy for the failing of our business and possible foreclosure. I was looking up chapter 7 though and it almost seems better because they will liquidate your assets and sell them and I believe that thats it and your clear after that, chapter 13 seems like just a restructuring. I only have the building of the store that is under foreclosure as an assett, I own nothing else so wouldn't chapter 7 be a better choice?

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