When a person finds themselves swamped with debt, one form of relief they may end up seeking out is a personal bankruptcy. There are multiple different types of bankruptcies that are available to individuals. One of these is a chapter 7 bankruptcy. This type of bankruptcy is sometimes referred to as a liquidation bankruptcy.
There are a variety of different things that can play a role in whether a chapter 7 bankruptcy is a good fit for a person who is seeking bankruptcy relief. There also are certain things that can impact whether a person is even able to receive such a bankruptcy. One of these is a person's income.