What Is Chapter 7 Bankruptcy?
Chapter 7 Bankruptcy is the process of starting over with a clean slate. Under Chapter 7 of the Bankruptcy Code any non-exempt assets the debtor has are sold off and the proceeds are distributed to the creditors. In most cases if someone is considering Chapter 7 Bankruptcy their debts already outweigh their assets making starting over with a clean slate faster and more worthwile.
How Can You Be Sure Chapter 7 Bankruptcy Is The Right Solution?
Chapter 7 Bankruptcy accounts for 65% of all consumer filings. It is the most common and quickest way to convert (liquidate) assets into money to cover debt. Typically, most debt is discharged within months of the attorney filling a bankruptcy petition.
How to Start the Chapter 7 Process
If you are ready or just want more information on whether Chapter 7 Bankruptcy is right for you, the best way to start is by contacting a local attorney or us by completing the “Contact Information” form on the right. Bankruptcy laws differ from state to state so it is important to discuss your case with a local bankruptcy attorney.
October 13th, 2010 at 3:53 pm
Thanks for sharing, this is a fantastic blog article. Really looking forward to reading more.
October 14th, 2010 at 4:44 am
I have been checking for some time for a high quality content articles in regards to this one issue . Scouting around in Search engines I eventually found this site. Looking at this info I am glad to say that I’m glad I came across it, it is exactly what I was looking for. I will make sure to bookmark your site.
October 22nd, 2010 at 9:35 am
Very good blog post in relation to the subject, keep up the great work. I hope to learn more from you in the future.
October 23rd, 2010 at 11:45 am
Definitely a superb blog post related to the topic, keep up the great work and I wish to learn a lot more from you in the time to come.