Example of a Simple Chapter 7 “Asset Case”
Chapter 7 "asset" cases may sound scary. They needn't be. We walk you through a very straightforward example to demystify this.
A Chapter 7 “Asset Case”
Most Chapter 7 cases are "no-asset" ones. So, what's an "asset case," and is it good or bad for you?
Chapter 7 Trustee’s Abandonment of Property
Just because you own something that's not exempt doesn't always mean that the Chapter 7 trustee will take it. The trustee could abandon it.
A “No Asset” Chapter 7 Case
Most individual consumer Chapter 7 cases are "no asset" ones. This means that the Chapter 7 trustee doesn't liquidate any debtor assets.
The Chapter 7 Trustee Challenging an Asset’s Value
What happens when your bankruptcy trustee thinks you undervalued an asset? How does the trustee determine what you own and its value?
Debts Partly Paid but then Written off in Chapter 7
If you have an "asset" Chapter 7 case, some or all of your debts are partially paid, with most or all of the remaining amounts written off.
Debts Not Listed in Your Bankruptcy Documents
If one of your creditors is not included in your "schedules" you risk continuing to owe that debt after your bankruptcy is finished.
Making Sense of Bankruptcy: What Is a No-Asset Chapter 7 Case?
Most people who file a Chapter 7 "liquidation" case don't have anything liquidated because everything they own is protected.
Crucial Question: What is Chapter 7 Bankruptcy?
Chapter 7, sometimes called "straight bankruptcy," is the simplest type of bankruptcy, yet it can also handle not-so-simple debt problems.
Crucial Question: Can Chapter 7 “Straight Bankruptcy” Help with My Support Obligations?
Chapter 13 âadjustment of debtsâ has a special way of helping with your support obligation. How about Chapter 7?
A Chapter 7 Can . . . Help You Walk Away from Your Business Yet Preserve Your Business Assets
Protect your business assets immediately with the "automatic stay" and permanently with property exemptions.
The Trustee in Chapter 7
In bankruptcy you hear a lot about "the trustee." What does this person do, in a "straight" Chapter 7 case, and in an "adjustment of debts" Chapter 13 one?
