Chapter 7 vs Chapter 13 Bankruptcy: 6 Crucial Things to Know

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Most people looking into bankruptcy face the same dilemma: Chapter 7 or Chapter 13? Both promise debt relief, but the experience, cost, and long-term impact couldn’t be more different. In this video, Ben from Ascend Finance breaks down the crucial differences in a way anyone can understand - without the legal jargon.

You’ll see why one path can take years and cost far more than you expect, while the other can deliver relief in a fraction of the time. Real stories, like Jane’s experience with an unexpected case dismissal, reveal how the wrong choice can leave you paying more with little benefit. You’ll also get insights into how each type affects your credit, the hidden costs most people overlook, and why timing and strategy matter more than you might think.

If you’re weighing your options, this video gives you clarity without telling you what to do - because your financial situation is unique. By the end, you’ll understand the critical differences and the questions you need to ask before making a decision that can change your financial future.

Here are some other articles that can help inform you about Chapter 7 and Chapter 13 bankruptcy:
https://tryascend.com/blog/chapter-7-...
https://tryascend.com/blog/bankruptcy...
https://tryascend.com/blog/is-it-bett...
https://tryascend.com/blog/how-does-b...
https://tryascend.com/blog/pro-and-co...

Here's what we cover in this video:

Chapters:
0:00 Introduction
2:04 Chapter 7 vs. Chapter 13 Bankruptcy Overview
4:03 Cost of Chapter 7 & Chapter 13 Bankruptcy
8:13 Duration of Chapter 7 & Chapter 13 Bankruptcy
9:09 Credit Report & Credit Score Impact
11:01 Pros and Cons of Chapter 7 & Chapter 13 Bankruptcy
15:18 Simple Way to Remember Chapter 7 & Chapter 13 Bankruptcy
16:01 Should You File Chapter 7 or Chapter 13 Bankruptcy?
16:40 Conclusion

At Ascend, we are dedicated to making debt freedom cheaper, easier, and faster.

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This is not legal advice and should not be construed as such. Please contact a consumer bankruptcy attorney for legal questions.

Music: https://www.bensound.com