What is Chapter 7

A chapter 7 bankruptcy is a liquidation proceeding. If you qualify, chapter 7 liquidates your non-exempt assets (most chapter 7 debtors do not have any non-exempt assets) and eliminates all of your dischargeable debts. If you have assets that are not exempt, the bankruptcy trustee is entitled to sell those non-exempt assets and use theContinue reading “What is Chapter 7”