Just as every person has their own distinct life story, so does each person have a unique set of financial circumstances. When a Mississippi resident's personal monetary situation involves significant financial challenges, moving forward can be difficult. However, one solution that may be appropriate for some is to file for bankruptcy.
People choose to file personal bankruptcy for many different reasons. If a person is considering filing, they need to determine if they are better off filing for Chapter 7 or Chapter 13 bankruptcy. Chapter 7 bankruptcy is sometimes known as "strait bankruptcy," and it can be very beneficial to qualifying individuals who cannot find a way out of overwhelming debt. Chapter 7 can not only discharge certain eligible debts but it can also stop wage garnishment as well as harassment from creditors.