As an usual form of financial obligation relief, bankruptcy is a legal process that enables a debtor to liquidate their financial obligation or combine and repay their financial obligation. The two most common kinds of bankruptcy consist of Chapter 7 and Chapter 13 bankruptcy. Chapter 7, called the “debt liquidation” bankruptcy, allows a debtor to liquidize a bulk of their debt in a brief amount of time. Chapter 13, on the other hand, gives a debtor an opportunity to repay their debt in economical monthly repayments over a duration of 3 to 5 years.
View More Orlando Bankruptcy Attorney