In a bankruptcy case under chapter 7, you file a petition asking the court to discharge all of your debts. the basic idea in a chapter 7 bankruptcy is to wipe out all of your debts in exchange for your giving up property, except for “exempt” property which the law allows you to keep. In [...]
Mar 8 After meeting with your credit counsellor and going over all the available financial solutions to your problems, you decide you want to go ahead with filing chapter 7 bankruptcy. What happens from here? do you have to go to the bankruptcy court? When are you going to get your discharge? What forms do [...]
I am planning on filing Chapter 7 bankruptcy due to a failed business and a foreclosure on investment property. Total debt is 190K and my total household income for a family of 3 is also 190K. I am wondering if I am have too much income per the new bankruptcy laws. I would like to [...]