On average, between one and one and a half million Americans file for bankruptcy every year. Bankruptcy is filed when a person has too much debt and cannot repay their creditors. But why file for bankruptcy when it has been known to ruin your credit? There are benefits of filing bankruptcy including making some of your debts disappear permanently. There are different chapters of bankruptcy that can be filed, including Chapter 7, Chapter 11, and Chapter 13, which are the most commonly filed. Figuring out which one you may need to file will help your bankruptcy filing proceed quickly and efficiently.
1. Chapter 7 bankruptcy laws involve the liquidation of assets an individual owns. These are seized a Read More