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Can I Keep My TV in Chapter 7?

If your television or other media equipment is worth little, then most likely you will be able to keep it in Chapter 7 bankruptcy. However, if you...

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Leases and Contracts in Chapter 7 Bankruptcy

If you file for Chapter 7 bankruptcy, usually you can decide if you want to continue with existing leases or contracts (called assuming the lease ...

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What Happens to My Cosigner in Chapter 7 Bankruptcy?

Chapter 7 bankruptcy discharges most unsecured debts, like credit cards, and allows you to keep secured debts like car loans and home mortgages if...

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Redeeming a Car Loan in Chapter 7 Bankruptcy

If you owe more on your car than what it’s worth, Chapter 7 bankruptcy allows you to get rid of your loan by paying the lender an amount equal t...

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What is Current Monthly Income for the Means Test?

Congress created the “means test” to determine if you qualify to file for Chapter 7 bankruptcy. Whether you qualify for Chapter 7 depends larg...

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Can I File for Chapter 7 Bankruptcy If I Am Unemployed

There is no bar to filing for bankruptcy if you are unemployed. Like all Chapter 7 bankruptcy filers, you'll have to pass the means test in order ...

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Reaffirming a Car Loan in Chapter 7 Bankruptcy

If you have a car loan and you file Chapter 7 bankruptcy, you must tell the court what you intend to do with the loan.

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Should I Surrender My Car in Chapter 7 Bankruptcy?

If you owe money on your car and you file for Chapter 7 bankruptcy, you must decide whether you want to  keep your car or surrender it.

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What Happens to a Car Lease in Chapter 7 Bankruptcy?

What happens to your car lease in Chapter 7 bankruptcy depends on whether you are behind on your payments and on what the bankruptcy trustee decid...

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The Motor Vehicle Exemption in Chapter 7 Bankruptcy

If you file for Chapter 7 bankruptcy, you will most likely be able to exempt (protect) some equity in your car, van, truck, motorcycle, or other...

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Exemptions in Chapter 7 Bankruptcy

Exemptions in Chapter 7 bankruptcy allow you to keep some or all of your property after you file a Chapter 7 case. There are exemptions for all ki...

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What Is a Priority Claim in Chapter 7 Bankruptcy?

When you file for Chapter 7 bankruptcy, not all creditors are treated equally. Bankruptcy law sets out the order in which creditors are paid and g...

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Are You Eligible for Chapter 7 Bankruptcy?

Chapter 7 bankruptcy is not available to everyone; there are certain qualifications you must meet in order to be eligible for Chapter 7 relief. Le...

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When You Don't Have to Take the Means Test in Chapter 7 Bankruptcy

Most individuals who file bankruptcy under Chapter 7 or Chapter 13 must complete a means test, which calculates your ability to repay creditors ...

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When Is Chapter 7 Bankruptcy Better Than Chapter 13?

If you are considering bankruptcy, usually the two main options are Chapter 7 and Chapter 13 bankruptcy. There are pros and cons to each type, b...

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If I Am Behind on My Mortgage, Can I Save My Home in Chapter 7 Bankruptcy?

A Chapter 7 bankruptcy, by itself, will not save your home from foreclosure. But there are times when Chapter 7 will be helpful to a homeowner i...

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Property Abandonment in Chapter 7 Bankruptcy

If the trustee abandons some of your property in Chapter 7 bankruptcy, that usually means you get to keep the property. Learn what property abando...

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Your Car in Chapter 7 Bankruptcy: An Overview of Your Options

If you file for Chapter 7 bankruptcy, you'll have to decide what you want to do with your car or other vehicle. If you are current on your payme...

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Chapter 7 Bankruptcy: An Overview

Chapter 7 bankruptcy is sometimes called “liquidation” bankruptcy—it cancels most types of debt, but you have to let the bankruptcy trustee l...

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Chapter 7 Bankruptcy and Foreclosure

If you are filing for Chapter 7 bankruptcy, whether you can keep your home depends on several factors

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Lifting the Automatic Stay in Chapter 7 Cases

One of the most attractive consequences of filing a bankruptcy petition is the automatic stay.  In a previous article, I discussed the importance...

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Business Debt Can Qualify You for Chapter 7 Even With a High Income

To file for Chapter 7, you must pass the means test. The means test compares your average monthly income during the six months before you file to the ...

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Chapter 7 Bankruptcy Attorney

In a Chapter 7 bankruptcy case, the attorney is responsible for explaining to the debtor with secured debts all of these rights: 1. keep the security ...

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Chapter 7 Bankruptcy: Get a Fresh Start and Rebuild Your Life

The US Constitution gives power to the federal government to establish uniform bankruptcy protection laws which apply equally to people in all sta...

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How Is Income From Child Support Treated in Chapter 7 Bankruptcy?

If you file for Chapter 7 bankruptcy and receive child support, you may be concerned about losing ongoing child support payments, payments you receive...

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Facts About Chapter 7 Bankruptcy and Medical Debt

If you are searching for a solution to financial distress that has been caused by overwhelming medical debt, you may want to learn these important C...

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Can I Keep My Car If I File for Chapter 7 Bankruptcy?

Can I Keep My Automobile If I File for Chapter 7 Bankruptcy? This is also a common question from most of my clients.  A debtor can keep the car ...

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Can I Keep My House If I File for Chapter 7 Bankruptcy?

Can I Keep My House If I File for Chapter 7 Bankruptcy? This is a common question from most of my clients. Usually the house is an issue that is als...

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Should I File a Chapter 7 Or 11 Bankruptcy?

Recent economic conditions have resulted in a substantial increase in bankruptcy filings.  Whether to file a Chapter 7 vs. 11 is a question that sh...

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What Is The Cost Of a Chapter 7 Bankruptcy?

Deciding to file a Chapter 7 bankruptcy is never an easy decision to make.  Often pondering the possibilities of which chapter of the bankruptcy co...

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Chapter 7 Bankruptcy: Understanding the Required Forms

When you file for bankruptcy, you have to complete a large packet of forms and file them with the court.

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Who Should File for Chapter 7?

Chapter 7 Bankruptcy, also known as straight bankruptcy or no asset bankruptcy, allows a debtor to wipe out most of his unsecured debt.  In the typ...

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The Bankruptcy Means Test

If you want to file for Chapter 7 bankruptcy, you must pass the means test. The means test looks at your income, and perhaps your expenses and debts, ...

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