Re: Why is Chapter 13 as bad as Chapter 7...

Posted by LadynRed (199.91.33.254) on June 02, 2003 at 12:52:35:

In Reply to: Why is Chapter 13 as bad as Chapter 7... posted by Marco Man on June 01, 2003 at 21:16:12:

Becuase, except for secured debt, you DON'T pay all your bills, only a small percentage goes to unsecured debts.

At the very least it is a sign that you were unable to handle credit and had to file for relief - at least that's the way lenders view it, even if that's not the reason you filed bk in the first place.

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