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Arnold & Arnold, LLP
Attorneys at Law
7691 Shaffer Parkway, Suite A
Littleton, CO 80127
Phone: 720-962-6010
Fax: 720-962-6011
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Bankruptcy Archives

Differences under Chapter 7 and Chapter 13 of The Bankruptcy Code

What are the Differences under Chapter 7 and Chapter 13: Secured or Unsecured, payment of judgment, impairment of exemptions? By Jean C. Arnold, Esq.

A. Payment of judgment - unsecured debt. In Bankruptcy, it is unlikely the debtor will pay the full amount of the judgment unless the underlying debt is found to be non-dischargeable under 11 U.S.C. ยง523 or the judgment is part of a Chapter 13 plan to pay the judgment in full or the judgment is reaffirmed by agreement with Court approval.