Personal Bankruptcy

01/06/2015 Financial & Legal Services

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If you are a resident of the United States who is in need of a financial fresh start, and you have tried everything possible to get back on your feet financially, it may be time to consider bankruptcy.Bankruptcy is a way for people or businesses who have more debts than they can handle to either work out a plan to repay the money they owe over time, or to eliminate their debts entirely.Different chapters of the US Bankruptcy Code provide different kinds of bankruptcy (including bankruptcy for businesses). The two main types of bankruptcy for individuals are Chapter 7 and Chapter 13 bankruptcy. Therefore, if you are considering personal bankruptcy, you will probably have to choose between Chapter 7 and Chapter 13.

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