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How to File Chapter 7 Bankruptcy

You will find outlines and tips at each step with example forms for most of the forms...


Car Repossession Laws and Your Rights

A person’s car will more than likely be one of the final pieces of property that a bank or the IRS will...


When to Plan and File for Bankruptcy

Knowing when to start filing for bankruptcy and how to plan for bankruptcy are very important...


Statistics on Who Is Filing Bankruptcy

Bankruptcy Claim Statistics in the US by a person's age, ethnicity, income, education, marital status...

Legal Articles

Preparing for the 341 Meeting of Creditors

Contributed by: Eddy Hsu

Generally, the 341 Meeting of Creditors is a requi...

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Can I Buy a Car or Refinance During Bankruptcy?

Contributed by: Eddy Hsu

There are certain dos and don’ts for a debtor rega...

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Legal Fees in Bankruptcy: Finding Reasonable Retainers

Contributed by: Ted Taggart

One of the most common questions for those conside...

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Loan Modification and Your Credit Score

Contributed by: Joshua A. Sutterfield

Thousands of homeowners continue to look to the go...

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Spotlight on Chapter 7 Bankruptcy

Filing for Chapter 7 Bankruptcy is a way for Debtors to get a "Fresh Start" and have debts eliminated. This type of Bankruptcy is also called a "Straight Bankruptcy" or "Liquidation Bankruptcy" because assets will be liquidated in order to pay off as much debt as possible.

For debtors who are incapable of repaying debts, and eligible for chapter 7, this is the most common option. Chapter 7 allows the debtor to relieve themselves of the burden associated with having a large amount of debt. It stops harassing phone calls from creditors, eliminates most debt, and eases...

Learn More: Chapter 7 Bankruptcy Articles

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Recent Bankruptcy Articles

Bankruptcy Options for a Married Couple

There are two options for filing bankruptcy for married couples. A married couple can file an individual bankruptcy petition or a joint bankruptcy petition. An individual bankruptcy filing...

Choosing the Right Bankruptcy Lawyer

You've decided that bankruptcy is the best option for getting rid of your debts and getting a financial fresh start. Before you take any further steps...

Making the Most of Bankruptcy Exemptions

What will I be able to keep after I file bankruptcy? This is a common question asked by most people considering bankruptcy as a way out of unmanageable debt. Let's get one myth cleared up...

Does Credit Card Debt Settlement Really Work?

Recently, the mortgage crisis and resulting economic recession has driven many Americans to rely heavily on credit cards sustain them during this difficult financial time. As a result, many people...

Bankruptcy Exemptions in California

Bankruptcy is a difficult option for anyone to choose. However, in California there is more to consider because while they require all residents filing for bankruptcy to...

Bankruptcy Exemptions in Florida

Anyone facing insurmountable debt knows that it can feel like there’s no way out.  However, for some, filing bankruptcy can provide some relief.  Chapter 7 bankruptcy is the...

Bankruptcy Exemptions in Illinois

Individuals may be able to legally retain certain assets when filing chapter 7 bankruptcy if they meet state or federal bankruptcy exemption requirements.  Generally, real estate...

Bankruptcy Exemptions in Nevada

Those filing for Chapter 7 bankruptcy relief in the state of Nevada must follow the state statutes to determine the types and amounts of exemptions available. Federal exemption...

Bankruptcy Exemptions in New Jersey

One of the simplest protections available to those facing financial trouble today is a Chapter 7 bankruptcy petition.  As a means of liquidating some assets to pay off outstanding...

Bankruptcy Exemptions in New York

Both federal and state exemptions exist to protect some forms of personal property from liquidation under Chapter 7 bankruptcy petitions. While some states allow residents...
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