Chapter 7 bankruptcy, also known as liquidation bankruptcy, is typically the quickest and simplest form of bankruptcy. It is also the most common type of bankruptcy for individuals. Many individuals prefer filing for chapter 7 bankruptcy because the entire process, from start to finish, usually takes an experienced firm like Williams & Cluff only about 3 or 4 months.

In order to qualify for chapter 7 bankruptcy, you must meet certain requirements. Your income and expenses will be examined to determine whether or not you meet these requirements. Qualification is based on your household income compared to the median household income for your state, which is determined by the IRS. If your income is less than your state