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![Filing chapter 13 bankruptcy](https://s3.amazonaws.com/qfe/2454_1368_243237_1.jpg)
Did you know that one out of every 70 households in the United States files for bankruptcy? Bankruptcy is common in the United States partially because 43% of American families spend more than they earn. However, bankruptcy is a viable option for many individuals because it is a way to reduce or eliminate debt. There are two common types of personal bankruptcy available, and each one is beneficial in its own way.
– Chapter 7 bankruptcy.
– Chapter 13 bankruptcy. Read this website for more information.