What is Chapter 7 Bankruptcy? Chapter 7 Bankruptcy is also known as liquidation bankruptcy, because it removes all debt that can be removed according to the Chapter 7 rules. Chapter 13 bankruptcy, however, makes a repayment plan for debt. If you decide to file for Chapter 7 bankruptcy, you must first attend credit counseling then […]
When you decide to file for bankruptcy protection as the right solution for your financial troubles, you need to decide on the type of bankruptcy that is most suited for your situation. If you are an individual, then your best bet will be chapter 7 or “liquidation” bankruptcy. What Is Chapter 7 Bankruptcy? Chapter 7 […]
Contrary to popular belief, you may actually be able to activate lien avoidance in chapter 7 bankruptcy. Going into the process of bankruptcy does not mean that you will be held responsible for or be able to jettison any debt in particular. The amount of leverage that you have throughout the chapter 7 process will […]
Overview Bankruptcy is one of the most difficult financial decisions that anyone will have to make in their lifetime. Not only are there financial consequences of filing for bankruptcy but there are emotional ones as well. Many times, people feel guilt or shame for many years after filing for bankruptcy even if it was a […]
Filing Chapter 7 bankruptcy requires the completion of many forms. When you file for bankruptcy protection, your financial history is presented on forty to seventy pages of petitions and schedules. Chapter 7 bankruptcy forms can be categorized into two groups: official forms and local forms. Official forms are used by all bankruptcy courts in the […]
