Andy's business is not able to pay its debts,and the prospects for its finances to improve are slim.Andy decides not to continue the business.In this case,Andy should file a voluntary petition for which type of bankruptcy?

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Chapter 7 bankruptcy allows for individuals or businesses to have their debts discharged, which seems to be the most appropriate choice for Andy's situation. Chapter 11 is typically used for businesses that want to reorganize and continue operating, while Chapter 13 is reserved for individuals with regular income. Chapter 12 applies to family farmers or fishermen with regular income.

Andy's Business Is Not Able to Pay Its Debts,and the Prospects