Posts Tagged ‘chapter 7 bankruptcy’

  When faced with a lot of debt and the desire to start off with a clean slate, many consumers will decide to file for bankruptcy as a last resort. However, not everyone is eligible for bankruptcy and for some filers, their cases are dismissed, and their debts are not discharged. Although bankruptcy dismissals can […]

If you’re thinking about filing for Chapter 7 bankruptcy, the following information can help you learn more about the basics: How secured debts are handled If you have property, money, or assets that you’ve used as collateral in order to obtain a loan, that loan is a secured debt. Cars and houses are some common […]

Although there are different chapters of bankruptcy, Chapter 7 is the most common. It’s sometimes also referred to as a liquidation bankruptcy, which involves the sale of the filer’s non-exempt assets. A trustee handles this and takes any proceeds to pay lenders for any debts that the filer has accrued. If you’re thinking about filing […]