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What are the Different Types of Personal Bankruptcy?

April 26, 2017bankrupt Bankruptcy declare bankruptcy different personal bankruptcy types

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What are the Different Types of Personal Bankruptcy?

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Personal bankruptcy is a final option for individuals who cannot pay their debts. Through bankruptcy, they are given a chance to make a fresh start. Although declaring bankruptcy is a stressful procedure, it is an option for those who have debt growing at a rate faster than they are able to pay it off. There are two types of personal bankruptcy, Chapter 7 and Chapter 13.