April 10, 2012

Bankruptcy

"Straight" Bankruptcy: Chapter 7

What does Chapter 7 bankruptcy involve?

Straight bankruptcy under Chapter 7 may be available if less drastic methods will not solve your financial problems. It allows you to discharge (extinguish) most debts.

>>What does Chapter 7 bankruptcy involve?
>>Am I eligible to file for bankruptcy under Chapter 7?
>>How does the means test work?
>>What steps do I need to take before filing for bankruptcy?
>>How does a Chapter 7 bankruptcy case begin?
>>What do I have to tell about my finances?
>>Will I lose some of my assets if I file for Chapter 7?
>>What are exempt assets?
>>What are nonexempt assets?
>>May I use Chapter 7 bankruptcy to get rid of all my debts?


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