What assets are sold during Chapter 7 bankruptcy?

Answer Chapter 7 bankruptcy requires that all assets be sold to generate cash for creditors. However, a quirk of the federal bankruptcy law gives individual states permission to establish "exemptions" all... Read More »

Top Q&A For: What assets are sold during Chapter 7 bankruptcy

What Assets Can I Keep in Chapter 7 Bankruptcy in Oregon?

Chapter 7 bankruptcy allows debtors to give up non-exempt assets to pay down debt in exchange for the court discharging remaining debts. The federal government sets asset exemption amounts for many... Read More »

How to Keep Business Assets During a Bankruptcy?

When a person or entity files for bankruptcy protection, his or her assets immediately become a part of the bankruptcy estate, which is temporarily controlled and managed by the United States Trust... Read More »

What can one keep during a Chapter 7 bankruptcy?

Filing for Chapter 7 bankruptcy doesn't mean you will lose all your belongings and assets. You are allowed certain exemptions. These exemptions can differ from state to state and from state to fede... Read More »

What Happens During Chapter 13 Bankruptcy in Ohio?

Unlike other kinds of bankruptcy, filing for a Chapter 13 bankruptcy in Ohio is a way to reorganize your debt and discharge a certain percentage of it. If you are in danger of foreclosure or owe mo... Read More »