Do I Qualify For Chapter 7 Bankruptcy?

Qualification for Chapter 7 – known as the “liquidation” option – requires passing a means test and ensuring that to the greatest extent possible, assets are protected by available exemptions.

Do I Qualify For Chapter 7 Bankruptcy?

Chapter 7 bankruptcy is often referred to as “the liquidation option” as the filing sells your non-exempt/unprotected assets to pay your creditors. This post outlines who can qualify for Chapter 7 bankruptcy.

Why It’s Important to Hire a Bankruptcy Attorney

Having the right bankruptcy attorney on your side is crucial to the success of your case. Going it alone isn’t a wise option as bankruptcy can be a very complicated process. There are all sorts of advantages to hiring an experienced bankruptcy attorney, and this post highlights a few of those.

How Personal Bankruptcies Work and What Happens After Filing

After filing for a personal bankruptcy, you’ll be granted the protection of automatic stay. From there, the court will assign your case a trustee schedule a Meeting of Creditors, providing your creditors notice of the bankruptcy filing.

How Does Business Bankruptcy Work?

There are three main types of bankruptcies and they have different effects on businesses and their owners. Whether you’re looking at Chapter 7, 11, or 13, you’ll want to consult a professional bankruptcy attorney to learn more about which option is best for you.

Converting a Chapter 13 Bankruptcy to Chapter 7

Converting a Chapter 13 bankruptcy to a Chapter 7 proceeding may be the right option for those looking to liquidate and consolidate assets in a more efficient fashion. However, it’s important to understand the entire process to see if the conversion is even possible.

Can You Get a Loan After a Bankruptcy?

Understanding how a bankruptcy can affect your ability to qualify for credit is vital. The proceeding remains on your credit report for seven to ten years and can dramatically affect your ability to qualify for credit cards and unsecured personal loans.

What Happens to Child Support Debt in Personal Bankruptcy?

Child support debt cannot be discharged in either personal bankruptcy filing. In some cases, it may be able to shift resources from one debt to another, but it’s important to note there are no options to discharge or liquidate the debt.