and some homeowners end up filing a Chapter 13 bankruptcy. Below, we'll break down the differences a bit more: Eligibility requirements. Generally, with Chapter 7, your income must fall below the ...

On the other hand, Chapter 13 is a “reorganization bankruptcy” that allows you to create a repayment plan without liquidating assets. Eligibility requirements for each type of bankruptcy also ...

Chapter 13 bankruptcy — also known as a wage earner ... By liquidating your assets Requirements to keep your home: Mortgage payments must be current, and you must file a homestead exemption ...

Bankruptcy proceedings can give you some much-needed breathing room, but they also come with serious financial ramifications ...