chapter 7 bankruptcy

30 04, 2014

Chapter 7, Chapter 13, Chapter 20 — Bankruptcy Options Are Available

2017-10-18T15:11:58+00:00 By |Bankruptcy Law Blog, Means Test|

As a consumer, what Chapter of Bankruptcy is right for you? A Chapter 7? A Chapter 13? A Chapter 20? A Chapter 7 Bankruptcy involves the collection and liquidation of non-exempt assets. The proceeds of the non-exempt assets are distributed to your unsecured creditors. A Trustee will be appointed to your Bankruptcy case to administer [...]

18 04, 2014

Chapter 13 Debt Limits

2017-07-17T20:56:40+00:00 By |Bankruptcy Law Blog|

Debtors have the option of filing a chapter 13 bankruptcy as long as some qualifications are met.  One of those qualifications is the debtor’s secured and unsecured debt amounts cannot exceed the limits set for a chapter 13.  A chapter 13 is a repayment plan that allows debtors to make monthly payments to the assigned [...]

6 05, 2011

Can I file a Chapter 7 Bankruptcy?

2017-07-17T20:57:06+00:00 By |Bankruptcy FAQ|

The two chapters of bankruptcy utilized by most consumers are chapter 7 or chapter 13.    A case filed under chapter 7 will be a shorter case, where the trustee assigned is looking for nonexempt property to sell for the benefit of the creditors.  A case filed under chapter 13 will be open for 3-5 years, [...]

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