What is chapter 7 in the bankruptcy laws?

Answer Bankruptcy is a last-resort option for individuals and businesses that have too much debt to control. One type, chapter 7, involves near-complete liquidation of the petitioner's assets in order to ... Read More »

Top Q&A For: What is chapter 7 in the bankruptcy laws

Chapter 7 Bankruptcy Laws Simplified?

If a person finds himself in an overwhelming financial situation, sometimes the only option is to file for bankruptcy--often--Chapter 7 bankruptcy. Chapter 7 is also called straight bankruptcy, or... Read More »

Chapter 7 Bankruptcy Fraud Laws?

Chapter 7 bankruptcy fraud is the act of using the federal bankruptcy system to avoid paying debts that a petitioner has the ability to repay. Bankruptcy fraud is a federal offense which anyone can... Read More »

Colorado's Chapter Seven Bankruptcy Laws?

Chapter 7 bankruptcy proceedings in Colorado are governed both by the U.S. Bankruptcy Code as well as the provisions of the local rules of the U.S. Bankruptcy Court for the District of Colorado. Ad... Read More »

Kentucky Chapter 7 Bankruptcy Laws?

If a Kentucky debtor has had trouble making his bill payments for months or even years, he may consider filing for bankruptcy. The quickest way to receive a discharge of his debts would be to file ... Read More »