Your start-up means everything to you, but if it's in trouble, you shouldn't allow it to destroy your life, financially or otherwise. While it may be hard to admit it's failing, losing your life savings, all your hard work and possibly the relationships that matter most to you would be even harder. Take a deep breath and a step back to decide if you should abandon the sinking ship or if it can realistically be saved.
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Declaring bankruptcy can mean different things depending on what "chapter" you choose. Chapter 7 bankruptcy and chapter 13 are the most common types of consumer bankruptcy, and they are very different in the way they take care of your debt problems. To help you decide which one you should use, you need to know what you wish from your bankruptcy filing. Read on to learn more.
Chapter 7
This is the most common chapter and for good reason.
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