Chapter 7 vs. Chapter 13: Cost Comparison

Chapter 7 bankruptcy eliminates most unsecured debt (credit cards, medical bills) in 3–6 months. Total cost: $1,800–$4,000.

Chapter 13 sets up a 3–5 year repayment plan and lets you keep assets like your home. Total cost: $3,500–$7,000.

Chapter 7 is faster and cheaper but has stricter income requirements (means test). Chapter 13 is better if you have a steady income and want to save your home from foreclosure..