Arizona Bankruptcy Law: What is the Difference Between Chapter 7 and 13 Bankruptcy?

The term “bankruptcy” still holds connotations of debtors prisons and the social stigma of being financially insolvent.  Luckily, people have not been jailed for declaring bankruptcy since 1833, and in some cases, declaring bankruptcy can be a viable part of a plan to clean up your finances.  However, it’s important to understand what bankruptcy means, and the difference between the …