Chapter 7 Bankruptcy for people with limited income
LIST Code: MO-13-01-00-00
LIST Code
MO-13-01-00-00
Title
Chapter 7 Bankruptcy for people with limited income
Definition
This category concerns the process and consequences of filing for Chapter 7 Bankruptcy, which is an option for individuals whose income is below certain requirements. Chapter 7 bankruptcy liquidates general debts (from credit cards and medical bills) without the need to pay them back. It is typically only available to people with low-income or little/no assets.
Other Taxonomy Terms
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