We have seen a growth of individual bankruptcy filings over recent years, especially during times of economic instability.

Review the United States Courts Bankruptcy BasicsLinks to an external site.. Analyze the various types of bankruptcy options that may be available to an individual client. You may also do further research on bankruptcy topics using the Strayer Library.

Assume that you have a client in heavy debt, earning less income than their required monthly payments. Your client is employed and owns a home with a mortgage. Due to declining revenues in their profession, your client does not see their income changing in the near future. What bankruptcy option would you recommend and why? Would your answer change if your client was pursuing a graduate degree and hoping to have a higher paying job within the next couple of years? Support your recommendation with research.