Chapter 7 bankruptcy is a legal process that allows individuals or businesses to eliminate most of their unsecured debts, such as credit card balances and medical bills, by liquidating non-exempt assets. This type of bankruptcy is also known as "liquidation bankruptcy" because the debtor's assets are sold to pay creditors. However, certain assets may be exempt depending on state laws. https://srislawyer.com/bankruptcy-lawyers-near-me-chapter-7-bankruptcy-lawyers-near-me/