What is bankruptcy?

Depending on the type of filing, bankruptcy is an opportunity for a consumer to gain protection from creditors using the courts, discharge unsecured debts entirely, or enter into an organized repayment plan. There are different types of bankruptcy filings and pros and cons within each option.

Chapter 7 and Chapter 13 are the most common. At Resolve, we believe Chapter 7 is the best option where viable, and is the only bankruptcy option we will recommend in that case.