Q: I noticed that it costs less to file a Chapter 13 bankruptcy in Maryland than a Chapter 7. I don't have a lot of money.
What are the requirements for filing Chapter 13?
A: To file Chapter 13, you must have regular income to contribute to at least a partial repayment plan. Chapter 13 is usually used where you have property you could lose if you filed a Chapter 7. If you have property requiring protection but can adequately be protected with your exemptions, Chapter 7 is probably best. In either event, the $29 difference between filing fees for the 3 or 7 is not what you want to base this decision on.
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