Chapter 7 or Chapter 13 — which kind of bankruptcy fits me?
Chapter 7 wipes out most unsecured debt in about four months but can't save a home or car you're behind on. Chapter 13 is a three- to five-year repayment plan that lets you catch up and keep property Chapter 7 might not protect. Your income, what you're behind on, and what you owe decide it. This is education, not legal advice — a bankruptcy attorney (many offer a free first visit) confirms the fit.
Is your household income below your state's median for a household your size?
Average your gross income over the last six months and multiply by 12. The U.S. Trustee Program publishes the medians.
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Educational only — not legal, tax, or financial advice. Typical ranges are shown; your contract, lender, and state law set the exact rules. MoneyFAQ is not a lender.