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Connecticut Bankruptcy Laws

HomeBankruptcy ConnecticutConnecticut Bankruptcy Laws

Bankruptcy is a state of being entirely missing in a particular good quality.

It is a legal status of a person who lacks the capability to repay his debts to the creditors.

Let’s therefore go through the advantages and disadvantages of Connecticut bankruptcy laws to understand the legal issues clearly.

Benefits of chapter 7 and 13

  • The case is fully released within a maximum time period of 6 months
  • There is no least amount of debt necessary
  • In chapter 13 if you are willing and can afford to pay then you can keep all your possession safe
  • You can file your case repeatedly under chapter 13

Drawbacks of chapter 7 and 13

  • You can file your case only once in every 6 years under chapter 7
  • Legal fees for chapter 13 are much more as compared to chapter 7 as it is more complex

Important: The articles available on are neither legal advice, nor a replacement for an attorney. The articles are general information and guidance concerning different legal issues. We make sure that these articles prove helpful to you but we do not promise or guarantee that they are suitable to your condition. We also do not take responsibility for any loss that might cause to you using these articles. Hence, it is strictly suggested to not to rely on the information provided in these articles completely without getting expert legal advice. It is also suggested to consult or hire an attorney in case of any doubt.