Wilson wants to file an ordinary,or straight,bankruptcy.Wilson should file using

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Quizplus · Accepted Answer

Chapter 7 bankruptcy is commonly known as straight or ordinary bankruptcy, and it is the best choice for Wilson as he intends to liquidate his non-exempt assets to pay off his creditors. Chapter 11 bankruptcy is for businesses, and Chapter 13 bankruptcy is for individuals with regular income and not suitable for Wilson's situation. Filing under his state's bankruptcy code is not a viable option as bankruptcy law is federal law, and each state cannot have its own bankruptcy code.

Wilson Wants to File an Ordinary,or Straight,bankruptcy