Chapter 7 Bankruptcy: What it Is and How to File - NerdWallet
https://www.nerdwallet.com/article/finance/chapter-7-bankruptcy
Chapter 7 makes sense when: You don’t have many assets. Your problem debts total more than 50% of your annual income. Your problem debts can be discharged, or forgiven, by Chapter 7. These include debts such as medical bills, credit card debt and personal or payday loans. It would take five years or more to pay off your debt, even if you took extreme measures.
You don’t have many assets.
Your problem debts total more than 50% of your annual income.
Your problem debts can be discharged, or forgiven, by Chapter 7. These include debts such as medical bills, credit card debt and personal or payday loans.
It would take five years or more to pay off your debt, even if you took extreme measures.
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