A chapter 7 bankruptcy is a liquidation proceeding. If you qualify, chapter 7 liquidates your non-exempt assets (for most debtors, all your assets are exempt) and eliminates all of your dischargeable debts. If the rare cases where you have assets that are not exempt, the bankruptcy trustee is entitled to sell those non-exempt assets andContinue reading “What is Chapter 7”
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Best Reasons to File Bankruptcy
Bankruptcy gets a bad rap in the press. Always has. Always will. But there are some good reasons to file bankruptcy. Critics would have you believe that people who file bankruptcy intentionally max out their credit cards on luxury items, then file bankruptcy so they don’t have to pay anything back. While that undoubtedly occursContinue reading “Best Reasons to File Bankruptcy”