my friend has some serious problems and asked me about bankruptcy?

Question

I don't know about it, but she has two repos under her belt, garnishment, credit cards, stuff totalling close to 35 thousand, should she file for bankruptcy, she owns her house and wants to keep it, what's chapter 7 and 13 do and mean?

DO YOU HAVE TO PAY IT BACK

HOW much is bankruptcy?

Answer 1

Always file a chapter 7 if you want to ever buy anything again. Chapter 13 is a major rip off, and so is consumer credit counseling. You can only file a chap 7 every 7 yrs. so creditors are much more likely to help you after bk is discharge usally takes a yr.