Types of Bankruptcy

Research the three types of bankruptcy and answer the following questions: Who may file Chapter 7 bankruptcy? What are some of the reasons that people file bankruptcy? 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, or Fox News, for example. Include the link or links used for your research in your post for your fellow classmates to review and to comment on.
Do not repeat cases discussed by another classmate.**
**In theory, two students could log on to class at the same time and begin researching the same case, then post their researched case not realizing another student researched the same issue. Should you find yourself in this unlikely scenario, still post the case you researched and e-mail the instructor.**
Be sure to post an initial, substantive response (at least 250 words