Chapter 7 bankruptcy is one of the most popular choices for individuals and families who are facing overwhelming debts. However, not everyone can qualify for Chapter 7 bankruptcy. In order to be eligible, you must be able to show that your current income and assets, when measured against your expenses, are not sufficient to realistically pay off your debts without assistance.
Avoid these mistakes when seeking relief from debt
Those who are facing significant debts can start to feel a sense of desperation and stress. In desperate situations, we do not always act logically. Instead, it's common for people to take impulsive actions that seem to be the quickest fix. Unfortunately, these impulsive actions taken in a desperate state can lead to further financial issues in the long run.
