This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
For example, a Chapter7 to another Chapter7bankruptcy typically has an 8-year wait time. Or, a Chapter7 to a Chapter13bankruptcy may require people to wait 4 years. What is liquidationbankruptcy? Liquidationbankruptcy is another name for Chapter7bankruptcy.
Quick Summary: Healthcare-related debts such as medical bills become dischargeable through bankruptcy (Chapter7 and 13). Chapter7 offers discharge for eligible medical bills. But it can involve assetliquidation, and the discharge is independent of such sales. That includes medical bills.
However, because assets do not secure these debts, bankruptcy may help eliminate them. To qualify for Chapter7bankruptcy, debtors must pass a means test that compares their income to their state’s median income. When you file for bankruptcy, you enter a legal process.
There are three types of bankruptcy relevant to businesses: Chapter7: LiquidationChapter7bankruptcy is often called liquidationbankruptcy. This type of bankruptcy is often chosen when a business needs to close its doors.
We organize all of the trending information in your field so you don't have to. Join 19,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content