Articles Tagged: chapter 7

The federal courts set up the process called bankruptcy to help consumers and businesses control, repay, and/or eliminate their debts. Bankruptcy typically falls under two main categories: liquidation, in which the debtor opts to sell some of their property, thereby liquidating their assets, in order to eliminate their debt; and reorganization, in which debtors repay […]

If you’re considering filing for bankruptcy, you probably have more than a few questions. How do you know if bankruptcy is right for you? Do you even qualify to file for bankruptcy? Which kind of bankruptcy should you file for? This guide will walk you through the basics of Chapter 7 bankruptcy, what it means, […]