How Chapter 7 bankruptcy filing Can Help You
Follow my blog with Bloglovin Let us understand all the aspects of Chapter 7 bankruptcy filing. It is also known as the liquidation bankruptcy, and the reason behind it is that it discharges most of the unsecured debt, which includes the medical bills, personal loans, and also the credit card debt. You will be astonished to know that it is one of the quickest, simplest and also the most common type of bankruptcy. And on a survey it was found that way back in the year 2016 almost sixty-three percent of the total 819 bankruptcy cases, were of chapter 7 only. The best part is that the chapter 7 bankruptcy in attorney Los Angeles has made most of the debts discharged. But before you plan to file a chapter 7, you should also check whether you are eligible for the same or not. You must fall under the defined income limits, which may vary from state to state and you need to have a debt requirement. Other than this, you also need to pass a “means test” in order to qualify for ...