Chapter 7 bankruptcy, often referred to as the “Fresh Start,” is ideal for individuals facing overwhelming unsecured debt, such as credit cards, medical bills, personal loans, and debts from services. It allows individuals to discharge these debts, offering a chance to rebuild financially. However, it’s not a solution for all debts. Student loans, recent taxes, parking tickets, child support, and alimony typically cannot be discharged. If you have manageable assets and your income does not exceed your living expenses, Chapter 7 can be a powerful tool for achieving financial relief.
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