You need to understand the benefits each chapter provides, given your financial circumstan...

What Type of Bankruptcy Should I File? – Legal Reader

You need to understand the benefits each chapter provides, given your financial circumstances and goals. The decision to file for bankruptcy involves several smaller decisions, including whether Chapter 7 or Chapter 13 would be most beneficial given your unique circumstances. In many cases, it is a decision that is taken out of a potential filer’s hands. However, there are situations where someone who otherwise qualifies for Chapter 7 would opt for a Chapter 13 case. Chapter 7 Bankruptcy The most popular type of bankruptcy is a Chapter 7 case. These legal proceedings are relatively fast and result in the elimination …

 

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