A Chapter 7 bankruptcy is a relatively quick process, and you can expect your case to last four to five months. This timeline, however, varies depending on your assets, litigation, and more.
If you receive an inheritance after filing for bankruptcy, it might become part of your bankruptcy estate. Learn what happens to inheritances in Chapters 7 and 13.
If you default on your car loan, you can almost always expect the lender to repossess the vehicle. If, after a car repossession, you still owe money pursuant to the loan, the lender may go after you for the money.
Whether you keep your vehicle in bankruptcy will depend on whether you file for Chapter 7 or Chapter 13 bankruptcy, whether you’re behind on your car payment, and whether you can protect all of the vehicle equity with a bankruptcy exemption.
Find out why transferring student loan balances to a credit card and eliminating the credit card debt in bankruptcy isn’t a sound tactic for handling student loan debt.
Learn about redemption and reinstatement after vehicle repossession, the difference between the two, and whether those options will be available to you.
Before receiving debt relief in Chapter 7, you must fully disclose your finances. If you file for Chapter 7 while living with your parents, you might have to include their income and expenses in your paperwork.
Suppose you file bankruptcy and several days later discover your car, van, SUV, motorcycle, or truck is missing. Fortunately, most creditors will release the car right away after you notify them. Learn more.