choose the correct term from each box. complete the paragraph explaining marcuss debt situation. marcus…

choose the correct term from each box. complete the paragraph explaining marcuss debt situation. marcus racked up over $30,000 worth of debt, which was no longer manageable for him because he kept missing payments. after seeking advice from a professional, he filed for blank bankruptcy because he had several assets he could sell to repay a portion of the debt. however, the bankruptcy record would stay on his credit report for blank.

choose the correct term from each box. complete the paragraph explaining marcuss debt situation. marcus racked up over $30,000 worth of debt, which was no longer manageable for him because he kept missing payments. after seeking advice from a professional, he filed for blank bankruptcy because he had several assets he could sell to repay a portion of the debt. however, the bankruptcy record would stay on his credit report for blank.

Answer

Brief Explanations:

In the U.S., Chapter 7 bankruptcy allows individuals with assets to sell them to pay off debts. A Chapter 7 bankruptcy record stays on a credit report for 10 years.

Answer:

First box: Chapter 7 Second box: 10 years