Determining Appropriate Bankruptcy Chapter
Kevin intends to file for bankruptcy. He is married with three college-aged children. His family owns significant assets, including three vehicles and two homes. Kevin and his wife have a combined annual income of approximately $300,000. Their total debt exceeds $1 million, over half of which is unsecured debt, such as credit card balances and medical bills. When filing for bankruptcy, Kevin will most likely file under _____.
AChapter 13
BChapter 11
CChapter 7
DEither Chapter 7 or Chapter 13
