The essential chapters for filing a bankruptcy case in Maine bankruptcy laws are none other than chapter 7 and chapter 13.
We will now discuss – how the laws benefit the individuals residing in Maine:-
- Chapter 7 is helpful to individuals who desire to free themselves from any debt simply and without any expense.
- It is also helpful for business people who would like to settle and cease their trade.
- Chapter 13 is often referred to as “ wage earner”
- There is no time to file in a chapter 13 case. Hence you can file it at any time you need support.
- You have instant safeguard instead of a creditor’s set of hard work and salaries on the date of filing.