Remove Asset liquidation Remove Chapter 7 bankruptcy Remove Secured debt
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What Debts Can Bankruptcy Eliminate: Examples of Unsecured Debt

Debt Free Colorado

However, because assets do not secure these debts, bankruptcy may help eliminate them. Understanding unsecured debt is the first step toward managing your finances better. To qualify for Chapter 7 bankruptcy, debtors must pass a means test that compares their income to their state’s median income.