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Old 06-02-2020, 08:45 PM
 
356 posts, read 321,043 times
Reputation: 195

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Chapter 7 vs Chapter 11:

1. Which is tougher to get out from?
2. Which is worse, looks bad on record?
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Old 06-03-2020, 07:21 AM
 
Location: Fort Payne Alabama
2,558 posts, read 2,917,212 times
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You don't "Get out of" Chapter 7. Once you declare and it is approved by the judge, you are done. Chapter 11/13 can roll on for years.
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Old 06-03-2020, 07:31 AM
 
106,987 posts, read 109,264,794 times
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there is chapter 13 too
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Old 12-13-2020, 12:48 AM
 
Location: Moved to Gladstone, MO in June 2022 and back to Minnesota in September 2022
2,073 posts, read 5,073,976 times
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Cahpter 11 usually involves a business or a corporation. Chapter 12 is designed for "family farmers" or "family fishermen" and is quite rare because hardly anyone is making their living being a family fisherman.

For individuals its usually Chapter 7 or 13.
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