Bankruptcy Protection for Filers Under Chapter 7 or Chapter 13
A person struggling financially will likely consider working on a bankruptcy case to address his or her financial problems. Depending on the specific circumstance of the bankrupt individual, filing for bankruptcy can help stop repossession, foreclosure, and wage garnishment.
Why Many Individuals are Filing Bankruptcy Cases Filing bankruptcy is not a simple task. There are multiple steps involved, such as undergoing the required bankruptcy counseling, taking the means test, or preparing a debt repayment plan that will run for three or five years.
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