Explains what is meant by Chapter 7 and Chapter 13 personal bankruptcy.

Introduction to bankruptcy liquidation (Chapter 7). [11:20]

Bankruptcy is the situation is when a person or other economic agent that owes more money than they will be able to pay back. In the United States, people who declare personal bankruptcy can do so under two provisions of the United...

Explore some of the differences between Chapter 7 or Chapter 13 bankruptcies, and some of the considerations when people consider these forms of bankruptcy need to think about.

This video [11:20] is an introduction to bankruptcy liquidation (Chapter 7).