Tag Archives: chapter 7 bankruptcy

Who Is Eligible to File Chapter 7 Bankruptcy?

Chapter 7 bankruptcy can provide for a financial fresh start to those who use its power to rid themselves of creditors harassment and headaches – but not everyone is eligible to file for Chapter 7 bankruptcy protection. The following requirements must be met in order to file a Chapter 7 bankruptcy:

File Chapter 7 Bankruptcy and Keep Your Home

A Chapter 7 bankruptcy is also known as a liquidation bankruptcy. This means that any property that a Chapter 7 filer has that is not exempt may be liquidated or confiscated and sold to pay off debts.

The Harsh Realities About the Impact of Personal Bankruptcy

For those who are considering personal bankruptcy, it is unlikely that all of the personal and professional consequences are known. However, the impact is quite serious and, often, harmful.