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2. Personal bankruptcies are up. When does it make sense to file?

   www.aol.com/personal-bankruptcies-does-sense...

   Chapter 7 is a liquidation bankruptcy, where one's nonexempt property and assets — possessions not protected by bankruptcy — are turned over to a trustee, and debt is discharged in 3 to 6 months.

3. Common types of bankruptcy and how to avoid filing - AOL

   www.aol.com/finance/common-types-bankruptcy...

   There are two common types of bankruptcy: Chapter 7 and Chapter 13. Filing for bankruptcy is a time-consuming process that can take years to stop affecting your finances.

4. How soon can you file Chapter 13 after Chapter 7 bankruptcy?

   www.aol.com/finance/soon-file-chapter-13-chapter...

   To get debts discharged through Chapter 13, you must wait four years after filing a Chapter 7 bankruptcy. You can file for Chapter 13 before four years if no debts were discharged in the Chapter 7 ...

5. Chapter 7, Title 11, United States Code - Wikipedia

   en.wikipedia.org/wiki/Chapter_7,_Title_11...

   Chapter 7 of Title 11 U.S. Code is the bankruptcy code that governs the process of liquidation under the bankruptcy laws of the U.S. In contrast to bankruptcy under Chapter 11 and Chapter 13, which govern the process of reorganization of a debtor, Chapter 7 bankruptcy is the most common form of bankruptcy in the U.S. [1]

6. Bankruptcy - Wikipedia

   en.wikipedia.org/wiki/Bankruptcy

   To be eligible to file a consumer bankruptcy under Chapter 7, a debtor must qualify under a statutory "means test". [55] The means test was intended to make it more difficult for a significant number of financially distressed individual debtors whose debts are primarily consumer debts to qualify for relief under Chapter 7 of the Bankruptcy Code.

7. Bankruptcy Abuse Prevention and Consumer Protection Act

   en.wikipedia.org/wiki/Bankruptcy_Abuse...

   Prior to the BAPCPA Amendments, debtors of all incomes could file for bankruptcy under Chapter 7. BAPCPA restricted the number of debtors that could declare Chapter 7 bankruptcy. The act sets out a method to calculate a debtor's income, and compares this amount to the median income of the debtor's state.