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How does a Chapter 13 case differ from a Chapter 7 case
Most people are familiar with Chapter 7 liquidation, sometimes
called straight bankruptcies. The basic difference between a Chapter 13
case and a Chapter 7 is that in a Chapter 7 case the individual’s
nonexempt property (if any) is liquidated (i.e. sold) to pay as much as
possible toward the debts, while in a Chapter 13 case a portion of the
debtor’s future income is used to pay as much of the debts as is
feasible under the circumstances. In a Chapter 13 case, the debtor
usually keeps all of their property.