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Specific requirements for Chapter 7 bankruptcy

Realizing that you're in over head with debts is a traumatic experience for some people. One option that you have in this case is filing for bankruptcy. There are two primary persona bankruptcies that people file – Chapter 13 and Chapter 7. A Chapter 13 is reserved for people who have an income and can keep up with payments to the bankruptcy trustee. A Chapter 7 is for people who don't have the income required to do that.

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