Who qualifies for Chapter 7?
Generally, if you spend what you make on your household expenses such as rent, mortgage, car payments, and groceries and there is little or nothing left over at the end of the month to pay your credit cards, hospital bills, and other debts such as back income taxes or student loans, then you likely qualify for a Chapter 7 Bankruptcy.
Chapter 7 is a bankruptcy that eliminates your debt, gives you a fresh start and allows you to keep most, if not all, of the assets that you own. After a Chapter 7, your debts are in the past and your future awaits. Credit scores are reborn, and you get to rebuild instead of being buried by the debt.