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January 2019 Archives

Do you qualify for Chapter 7 bankruptcy?

If you have considered filing for bankruptcy, you are certainly not alone. In 2017, more than 767,700 bankruptcy cases were filed, according to U.S. Courts. Of those cases, 472,135 were Chapter 7 bankruptcies. Chapter 7, otherwise referred to as liquidation bankruptcy, is designed to wipe away most of your lingering debts, including credit card debts, medical expenses, doctors’ bills and mortgage payments. Not everyone, however, qualifies to file for Chapter 7. There are a few factors that must be met in order to file for this type of bankruptcy.

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