Chapter 7 Or Chapter 13, Which Is Better?
If you're unable to pay your bills, then you may be able to file for bankruptcy. As a consumer, you have two options for filing bankruptcy, chapter 7 and chapter 13. Which one you should use depends on a number of factors as well as your income and your assets. Both have the advantage of stopping creditors from making you pay everything in full, but both also have the disadvantage of having an effect on your credit.