admin

Chapter 7 bankruptcy Chapter 7 is commonly called the “straight” bankruptcy. It is used by individuals to get a “fresh start”. A Chapter 7 Bankruptcy discharges or eliminates most of your debts such as credit cards, medical bills, bank loans, payday loans, and deficiency balances on repossessions. Certain debts such as newer taxes, spousal and child support, and student loans cannot be discharged in bankruptcy. If you have any property that has a value or equity more than we can exempt (“protect”) for you, a Chapter 7 Trustee can sell the property to pay something to your creditors. The vast majority [...]