What Are the Pros and Cons of Filing Chapter 7 Bankruptcy?
When financial hardships become overwhelming, Chapter 7 bankruptcy—or liquidation bankruptcy—can offer a fresh start. Chapter 7 of the United States Bankruptcy Code deals with the process of liquidation under the bankruptcy laws. This form of bankruptcy involves liquidating nonexempt assets to pay off debts, providing significant relief to eligible individuals. Balancing immediate debt relief with […]