Which process leaves you with no debt when it is over?(1 point)

Responses

both Chapter 7 and Chapter 13 bankruptcy
both Chapter 7 and Chapter 13 bankruptcy

Chapter 7 bankruptcy
Chapter 7 bankruptcy

Chapter 13 bankruptcy
Chapter 13 bankruptcy

neither Chapter 7 nor Chapter 13 bankruptcy
neither Chapter 7 nor Chapter 13 bankruptcy

1 answer

The correct response is Chapter 7 bankruptcy.

Chapter 7 bankruptcy typically results in the discharge of most unsecured debts, leaving the individual with no debt after the process is complete. In contrast, Chapter 13 bankruptcy involves a repayment plan and may not eliminate all debts.