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No. Even if you need to declare bankruptcy, you may not be able to. For Chapter 7 bankruptcy, the court docket should decide that you just don't make enough in
That alone can be a huge worry reduction. You furthermore mght get an opportunity to do a economic "reset” - Even though a unpleasant a person. That may enable You begin obtaining your money existence back again if you want.
At the end of the repayment time period, any remain
That will depend on the kind of bankruptcy you qualify for. Having a Chapter seven bankruptcy, your assets will be bought (besides Maybe your own home and vehicle), and also your creditors are going to be paid off While using the proceeds.
If you're suitable for bankruptcy, the cour