Chapter 7 Bankruptcy

When filing for a Chapter 7 bankruptcy, certain assets will be categorized as exempt from seizure by the courts to pay off any claims by creditors. However, some assets might be declared nonexempt. If so, you might wonder which of your assets would be nonexempt and...

When you file for bankruptcy, there are a few different types that you can choose from. But it may not all be a choice. In some cases, you will qualify for one type of bankruptcy—such as Chapter 7—while not qualifying for another type, such as Chapter 13. To make this...

You’ve been considering filing for Chapter 7 bankruptcy. This would mean that you have to liquidate your non-exempt assets. The money that you make during this liquidation process can then be used to pay off a portion of your debt. Creditors will get something back,...

If you are contemplating filing for Chapter 7 bankruptcy to alleviate your financial situation, you may wonder if you need a minimum amount of debt to qualify. Fortunately, no debt threshold applies for Chapter 7 bankruptcy. Bankruptcy is designed to give you a fresh...

Debt can be devastating. It can pile up and may seem like something you cannot escape from. However, filing for chapter 7 bankruptcy could give you the breathing room you need to recover your finances and credit score. Chapter 7 bankruptcy involves the sale of...