Blog Category: Chapter 7

There are some individuals that will state that they are going bankrupt because they have nothing to lose anyway. In a sense what they are referring to here is a no asset bankruptcy. In most cases this is applicable to many of the individuals that are going through a Chapter 7 bankruptcy. In fact, the  … Read more

You are going to find that when you file for your Chapter 7 bankruptcy that there are going to be some fees involved. These are often distressing for many individuals that are going bankrupt because they are so tight financially to begin with. There are some options when paying the filing fees such as being  … Read more

It may turn out that your Chapter 13 bankruptcy is the best method for dealing with your financial situation. Circumstances may change where you cannot honor the chapter 13 repayment plan. You may have decided that the property you were allowed to keep in your chapter 13 dealings is no longer important to you. You  … Read more

There are rules and regulations pertaining to every chapter of the different forms of Houston bankruptcy. In the Chapter 7 bankruptcy normally the debtor has to comply with the means test in order to qualify for this form of bankruptcy. This does not occur in all cases however. There are circumstances where the means test  … Read more

The Chapter 7 bankruptcy is a legal process that you need to go through if you have decided that this is a course of action you want to take for your debt resolution. Once you have decided to do this then there are steps that you have to go through in order for the bankruptcy  … Read more

When you file for bankruptcy you will be assigned a professional called a bankruptcy trustee. This individual makes all of the decisions concerning your bankruptcy. This is the person that decides who gets paid and who does not and what assets you are able to keep and those which will have to be sold. This  … Read more

Chapter 7 is often considered the bankruptcy action for personal bankruptcy. It is also applicable for small businesses that are either a sole proprietor or general partnership. In these forms of business you as the owner are personally responsible for the business debts, and that is why the chapter 7 bankruptcy is applicable. If it  … Read more

The most common forms of bankruptcy in the US is Chapter 7 or Chapter 13. In either one of these there will a bankruptcy case trustee appointed to your case. It is this individual’s responsibility to review your bankruptcy filing. It must be determined that there is no fraud being attempted, and that there is  … Read more

There are some unsecured debts in a Chapter 7 bankruptcy that are considered to be important even though they are not secured. These debts will be the ones dealt with first when it comes to repayment. Payment would be made if the bankruptcy trustee has disbursed some of your property. Different Debts An example of  … Read more

Even though you are in a tough financial situation to the point where you have to declare bankruptcy you most likely do have some possessions. These are what you have been struggling to protect as your financial situation became uncontrollable. Now if you are going to end up losing these by going bankrupt what is  … Read more