debt
Date: Mon, 07/26/2010 - 08:06
What is the difference between debt consolidation and bankruptcy?
In bankruptcy, you basically petition the court to discharge al
In bankruptcy, you basically petition the court to discharge all off your debts for Chapter 7. Chapter 13 bankruptcy is a wage earner plan where you make payments for 3-5 years.
Debt consolidation is similar to a Chapter 13 in that you make payments to pay off your debts over a certain time period. However you could still be sued or the creditor could cancel your plan in a debt management program.
