Chapter seven bankruptcy is often identified as “liquidation” bankruptcy. Individuals commonly choose this chapter when they don't have enough cash flow to repay their debts. Most debts in Chapter seven are eliminated and entirely discharged.
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Even though you are in dire financial straits, Chapter 7 might not be for you. Applicants need to apparent assorted hurdles just before a bankruptcy court docket approves the filing. Between them:
Debtors with a regular earnings can use Chapter 13 bankruptcy to manage with their overpow