Chapter 7 bankruptcy is the most common form of bankruptcy in the U.S., designed for people who don’t have the resources to pay off their debts and have an overwhelming, inescapable financial burden as a result. Last year, approximately 728,833 people filed for Chapter 7 across the country — so if you feel like this is the best bankruptcy choice for you, you definitely aren’t alone.
But what if you aren’t sure if seeking help with filing bankruptcy is the right choice for you and your finances? Here are some of the most common questions that you may have about Chapter 7 bankruptcy — along with their answers.