What are the differences between the types of bankruptcy? Explain your answer.© BrainMass Inc. brainmass.com December 15, 2020, 12:37 pm ad1c9bdddf
Different types are:
Chapter 7 is designed for debtors in financial difficulty who do not have the ability to pay their existing debts. Debtors whose debts are primarily consumer debts are subject to a "means test" designed to determine whether the case should be permitted to proceed under chapter 7. If your income is greater than the median income for your state of ...
The differences between the types of bankruptcy are examined.