Chapter 7

You've made the difficult decision to file for Chapter 7 bankruptcy. You know that your financial life will change after this and won't be the same for awhile.However, your credit cards haven't yet been cancelled. Should you make a few last purchases? Perhaps you...

If you find that your alimony payments are more than you can handle financially, it may be tempting to consider bankruptcy as a way to avoid them. However, that's probably not the best choice.It's essential first to understand the difference between Chapter 7 and...

Chapter 7 is often thought of as a way to wipe the slate clean and erase all debts. While it can in some cases, it's important to know that every single debt isn't discharged in every case. Some debt can remain. That doesn't mean you should not use Chapter 7, but just...

To a small business owner who is facing a debt spiral that does not seem to have a solution, it can be difficult to know just what to do. Bankruptcy is always there as an option, but the way that it works can cause distress to many people, especially when they do not...

In one year during this decade, one tech provider estimated that as many as 1.25 million Americans filed bankruptcy petitions. That number was actually a decrease from the 1.38 million the prior year.Despite the popularity of the strategy to get out of the deepest...

It's a new year, and for some, it's a good time to file for bankruptcy to get out from under unmanageable debts. The type of slate-clearing bankruptcy many debtors seek is Chapter 7.Individual debtors may qualify for filing under Chapter 7, but a means test is...

Many consumers who are struggling with debt hesitate to file for bankruptcy because they dread tanking their credit rating and not being able to buy a home, a new car or even open a credit card account in the future.It's a reality that needs to be weighed carefully,...

There's a common misconception that a Chapter 7 bankruptcy will totally wipe a debtor's slate clean. While that would make many filers very happy, unfortunately, some debts are not discharged via bankruptcy.Certainly Chapter 7 is the best option for many consumers, as...

With mortgage rates so low right now, New Jersey residents who struggled through the recent recession and took hits to their credit ratings are in recovery mode and ready to purchase homes.But what about the couples and individuals who filed for bankruptcy — can...

Chapter 7 bankruptcy is a good way to wipe out a mountain of debt, but don't be fooled; it doesn't automatically erase all debts, and some are not legally eligible to be discharged in bankruptcy proceedings.Bankruptcy courts usually issue discharge orders two to three...