• Lifestyle

    Understanding Bankruptcy: What Happens When You File for Bankruptcy?

    Types of Bankruptcy: Chapter 7 vs Chapter 13 Bankruptcy is a legal process that can provide relief for individuals and businesses struggling with overwhelming debt. There are different types of bankruptcy, but the most common types for individuals are Chapter 7 and Chapter 13. Chapter 7 bankruptcy, also known as liquidation bankruptcy, involves selling off non-exempt assets to pay off…

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