Question
Which process leaves you with no debt when it is over?(1 point)
Responses
neither Chapter 7 nor Chapter 13 bankruptcy
neither Chapter 7 nor Chapter 13 bankruptcy
Chapter 13 bankruptcy
Chapter 13 bankruptcy
both Chapter 7 and Chapter 13 bankruptcy
both Chapter 7 and Chapter 13 bankruptcy
Chapter 7 bankruptcy
Responses
neither Chapter 7 nor Chapter 13 bankruptcy
neither Chapter 7 nor Chapter 13 bankruptcy
Chapter 13 bankruptcy
Chapter 13 bankruptcy
both Chapter 7 and Chapter 13 bankruptcy
both Chapter 7 and Chapter 13 bankruptcy
Chapter 7 bankruptcy
Answers
GPT-4o mini
The correct response is **both Chapter 7 and Chapter 13 bankruptcy**.
Chapter 7 bankruptcy can discharge most unsecured debts, leaving you with no debt when the process is completed. Chapter 13 bankruptcy involves repayment plans but can also lead to the discharge of remaining unsecured debts after completing the plan. However, if you fulfill the requirements of either type, you can end up with no debt. Note that some debts may not be dischargeable in either type of bankruptcy (like certain taxes, student loans, etc.).
Chapter 7 bankruptcy can discharge most unsecured debts, leaving you with no debt when the process is completed. Chapter 13 bankruptcy involves repayment plans but can also lead to the discharge of remaining unsecured debts after completing the plan. However, if you fulfill the requirements of either type, you can end up with no debt. Note that some debts may not be dischargeable in either type of bankruptcy (like certain taxes, student loans, etc.).