Whether we face the reality of a financial crisis or not, sometimes there’s no easy way out. Events can conspire to overwhelm you, and in the end, the only option you may have left is to file bankruptcy. Most bankruptcies in the United States are either Chapter 7 or Chapter 13 and deciding which one is right for you depends on your income, assets, debts and other financial issues.
Chapter 7 bankruptcy is a liquidation bankruptcy that wipes out all general unsecured debts such as medical bills and credit cards. To qualify, you must have little or no disposable income,
