7 & 13 Examples

Examples of Benefits of Chapter 7 and Chapter 13

There are three examples given below, with an introduction to each. Select an example to review its complete details, including resolution.

Example 1

Example 2

Example 3

Mary wants to know whether it is better for her to file a Chapter 7 petition or a Chapter 13 petition. The following facts apply to Mary's case:

Debts:

Car lien by BIG BANK	$8,000.00
Credit Cards	$40,000.00

Other Pertinent Info:

Disposable Income	$460.00/mo.
Nonexempt Equity	$4,000.00

George wants to know whether it is better for him to file a Chapter 7 petition or a Chapter 13 petition. The following facts apply to George's case:

Debts:

Car lien by CREDIT UNION	$8,000.00
Credit Cards	$30,000.00

Other Pertinent Info:

Disposable Income	$300.00/mo.
Nonexempt Equity	$ Zero

Kenny wants to know whether it is better for him to file a Chapter 7 petition or a Chapter 13 petition. The following facts apply to Kenny's case:

Debts:

Amt. behind on Mortgage to BIG BANK	$10,000.00
Credit Cards	$20,000.00

Other Pertinent Info:

Disposable Income	$300.00/mo.
Nonexempt Equity	$15,000.00

Click below for a full review of an example, including resolution:
Example 1 - Mary
Example 2 - George
Example 3 - Kenny