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Video: What are the most common reasons for Chapter 7 bankruptcy?

A Chapter 7 is typically considered by a business to be the appropriate bankruptcy to file when the business no longer can survive and cannot determine any way to sell its assets in the future. An individual would typically consider filing a Chapter 7 when he or she is unable to pay her normal debts as they come due, and the debtor doesn't have any assets that would be subject to a trustee's reach in a Chapter 7.