Research the three types of bankruptcy and answer the following questions:
1) Who may file Chapter 7 bankruptcy?
2) What are some of the reasons that people file bankruptcy?
3) How does bankruptcy affect interest rates on loans? Credit cards? Then research, identify, and summarize a specific Chapter 7 bankruptcy case or issue.
Incorporate the legal terminology from your textbook where appropriate, in both your original post and in your responses to your classmates. Use academic or legitimate news sources, such as The New York Times, the Los Angeles Times, the Washington Post, CNN, MSNBC, Fox News, etc. Please include the link or links used for your research in your post for your fellow classmates to review and to comment on.
Sample Solution
