Bankruptcy Chapter 7, often referred to as liquidation bankruptcy, allows individuals to eliminate most of their unsecured debts, such as credit cards and medical bills. The process involves selling non-exempt assets to pay creditors, but many filers can keep essential property. It’s crucial to consult with a bankruptcy attorney to understand eligibility and the implications of filing for Chapter 7 bankruptcy, as it can significantly impact your financial future.

Published On: September 10, 2024Categories: Bankruptcy and Debt, Bankruptcy Chapter 7
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