Chapter 7, is also called straight or liquidation Bankruptcy. The court appoints a Trustee who may liquidate or sell some things that you own to pay your creditors. Most of your debt will be canceled, but you may choose to pay some creditors, usually to keep a car or home in which the creditor has a lien.
Filing for Chapter 7 can help you make a fresh start. To discuss your options and alternatives, feel free to contact me today for a free consultation.
Learn about Chapter 13. |
