Chapter 7 Bankruptcy Jacksonville

Bankruptcy is the legal status that says a debtor is no longer able or obligated to pay back debts. It is a status that many people apply for without proper knowledge of the process or how it will effect the claimant’s credit rating. Sometimes it is the perfect solution to problems, but sometimes it can just be added trouble for the person claiming the bankruptcy.

There are two main chapters of bankruptcy which are followed more frequently. Chapter 7 bankruptcy Jacksonville states that the person is completely destitute and can not take care of bills. Chapter 13 is a chapter that is more geared toward paying back some of the funds. More info: chapter 7 bankruptcy Jacksonville

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