Chapter 7 - Nolo.com

If you are considering filing for Chapter 7 bankruptcy and you are expecting to receive or have received a tax refund, you probably want to know what ...

Will Bankruptcy Get Rid of Lawsuit Judgments?

Find out if you can wipe out a lawsuit judgment in bankruptcy and what happens if the creditor has a lien against some of your property.

Can I deduct college tuition on the Chapter 7 means test?

In most cases, you cannot deduct college tuition on bankruptcy's means test. This means that if you have a big tuition payment, it won't help you pass...

What Is a Chapter 7 No-Asset Bankruptcy Case?

The majority of Chapter 7 bankruptcies filed in the United States are no-asset cases. When a Chapter 7 bankruptcy is considered a no-asset case, i...

Can I Keep My Disability Payments in Chapter 7 Bankruptcy?

Most debtors need their disability payments to live on while they are unable to work. Because of this, in most cases your disability payments are ...

Can I Keep Cash in Chapter 7 Bankruptcy?

You can keep cash when you file for Chapter 7 bankruptcy, but only if the cash qualifies as an exempt asset. Read on to learn how bankruptcy exemp...

Are veterans benefits income under the Chapter 7 means test?

If you are a veteran, do your veterans' benefits count as "income" for purposes of qualifying for Chapter 7 bankruptcy relief? Your income affects...

How to Value Cars & Vehicles in Bankruptcy

If you own a car, motorcycle, SUV, van, RV or other vehicle and you file for bankruptcy, you'll have to list the value for the vehicle on your bankr...

Getting a Credit Card After Bankruptcy

Despite your recent bankruptcy, you will probably get many credit card offers in the mail or over the Internet. Most recent bankruptcy filers can ...

Car Ownership Expenses and the Bankruptcy Means Test

If you have a car, the means test in bankruptcy allows you to deduct a certain amount of expenses related to operating and owning a vehicle.

I Don't Have a Car Loan. Will That Affect My Means Test?

If you own your car free and clear, you may have a harder time passing the Chapter 7 means test than someone with a car loan.

Can I keep an expensive car in Chapter 7 bankruptcy?

When you file Chapter 7 bankruptcy, whether you can keep a luxury car depends on a number of factors.

Keeping Your Car in Chapter 7 Bankruptcy Through Redemption

If you owe money on your car when you file Chapter 7 bankruptcy, you have three choices with regard to your car loan.

Can I keep two cars in Chapter 7 bankruptcy?

If you have two cars and you file Chapter 7 bankruptcy, you may or may not be able to keep both vehicles. Whether you can do so will depend on whe...

Reaffirming a Car Loan in Chapter 7 Bankruptcy

When you file Chapter 7 bankruptcy and you have a car loan, you must indicate in your bankruptcy paperwork whether you intend to keep the car or g...

I Have a Large Mortgage Payment. Can It Help Me on the Means Test?

If you have a large mortgage payment, you typically have a better chance of passing the Chapter 7 means test than a debtor who rents. This is beca...

Surrendering a Car in Chapter 7 Bankruptcy

If you have a car loan or a car lease when you file Chapter 7 bankruptcy, you must choose whether you will keep the car and continue to pay for it...

Expenses That Can Help You Pass Bankruptcy's Means Test

Even if you make too much money to automatically pass the Chapter 7 means test, you may still be able to qualify for Chapter 7 bankruptcy. This is...

Keep Your Car in Chapter 7 Bankruptcy

If you own a car and file Chapter 7 bankruptcy, what you do with your car will depend on whether you owe money on it and, if you do, whether you ...

Will Chapter 7 Bankruptcy Prevent a Car Repossession?

If you are not making timely car loan payments, Chapter 7 bankruptcy cannot permanently prevent a car repossession. However, Chapter 7 can tempo...

Can I Keep My Wages in Chapter 7 Bankruptcy?

In Chapter 7 bankruptcy, you get to keep income you earn after you file your case. This means that wages you earn after filing are yours to keep.

Common Mistakes Made on the Bankruptcy Means Test

The means test is often the starting point for anyone who is filing for bankruptcy.

Keeping Nonexempt Property in Chapter 7 Bankruptcy

In a Chapter 7 bankruptcy, the bankruptcy trustee can liquidate your nonexempt assets and distribute the proceeds to your creditors.

Inheritances in Chapter 7 Bankruptcy

If you receive an inheritance after filing for Chapter 7 bankruptcy, the bankruptcy trustee may be able to take it to pay your creditors. Whether ...

Will the Bankruptcy Trustee Abandon My Car?

In a Chapter 7 bankruptcy, the trustee has the power to take your car and sell it if you cannot exempt its full value.

Can the Lender Repossess My Car During Chapter 7 Bankruptcy?

If you are in an active Chapter 7 bankruptcy, your car loan lender is prohibited from repossessing your car or otherwise trying to collect its deb...

My car was repossessed. Can Chapter 7 bankruptcy help?

If your car has been repossessed, filing for Chapter 7 bankruptcy may allow you more time to negotiate with your lender and get your car back. I...

I don't have a car loan. Can I keep my car in Chapter 7 bankruptcy?

If your car is worth more than your motor vehicle exemption you may be able to use a wildcard exemption to exempt the rest. Certain states have ...

Consumer v. Non-Consumer Debts for the Bankruptcy Means Test

It's not always easy to determine if a debt is consumer or non-consumer for purposes of the Chapter 7 means test. If you classify most of your ...

“Current Monthly Income” for the Bankruptcy Means Test

When you file for Chapter 7 bankruptcy, you must fill out a long form referred to as the “means test” (Fo

The Marital Adjustment Deduction on the Means Test

In order to qualify for Chapter 7 bankruptcy, you must pass the "means test." If you are married and your spouse is not filing for bankruptcy wi...

Chapter 7 Means Test: Comparing Your Income to the State Median Income

When you file for Chapter 7 or Chapter 13 bankruptcy, you must compare your family income to the median income in your state for the same household ...

Exceptions to the Means Test Requirement

Almost all debtors filing for Chapter 7 bankruptcy must pass the “means test.” However, there are a few instances when a debtor can qualify for ...

Average Attorney Fees in Chapter 7 Bankruptcy

If you are considering a Chapter 7 bankruptcy, figuring out how much you'll have to pay your bankruptcy lawyer can be another source of stress.

What Happens to a Car Lease in Chapter 7 Bankruptcy?

If you are leasing a car, truck, van, or other motor vehicle when you file for Chapter 7 bankruptcy, you have two options for the car lease: You ...

Household Size and the Chapter 7 Means Test

In the first step of the means test, you compare your income to the median income in your state for a household of the same size. Using the corr...

Is unemployment income counted as “income” on the bankruptcy means test?

Whether you must include unemployment compensation as "income" on the Chapter 7 bankruptcy means test depends on the bankruptcy court. Some say ye...

My mother pays for my child's daycare. Do I count this as income on the Chapter 7 means test?

Do I Have to List My Mother’s Contribution toward my Child’s Daycare as Income on the Means Test?

What Happens to Leases and Contracts in Chapter 7 Bankruptcy?

If you have an unexpired lease or executory contract when you file for Chapter 7 bankruptcy, the bankruptcy trustee may "assume" or terminate the lea...

If You Are Behind in Your Car Payments, Can Chapter 7 Help?

Chapter 7 bankruptcy itself does not provide a way to catch up on overdue car payments.

Surrendering Secured Property in Chapter 7 Bankruptcy

When you file for Chapter 7 bankruptcy, you must decide how to handle your secured debts.

Redeeming Secured Property in Chapter 7 Bankruptcy

In Chapter 7 bankruptcy, you can keep secured property by redeeming it – paying the creditor the replacement value of the property.

Reaffirming Secured Debt in Chapter 7 Bankruptcy

In Chapter 7 bankruptcy, if a debt is secured by property you want to keep (for example, your car), one way to keep the property is to reaffirm the ...

Secured Debts in Chapter 7 Bankruptcy: An Overview

Secured debts are treated differently in Chapter 7 bankruptcy than other kinds of debts.

Exemptions in Chapter 7 Bankruptcy

When considering filing for Chapter 7 bankruptcy, the first thing most people want to know is how much property they are allowed to keep if they file....

Your Retirement Plan in Bankruptcy

If you file for Chapter 7 bankruptcy or Chapter 13 bankruptcy, you get to keep your pension and retirement plan funds, with a few limitations. If you ...

When Chapter 7 Bankruptcy Is Better than Chapter 13 Bankruptcy

There are several reasons why Chapter 7 bankruptcy can be more advantageous to certain debtors than

Is Chapter 7 Bankruptcy the Right Choice for You?

Before you file for Chapter 7 bankruptcy, decide if it makes financial sense.

The Bankruptcy Means Test: Are You Eligible for Chapter 7 Bankruptcy?

If you have high expenses, you can earn significant monthly income and still qualify for Chapter 7 bankruptcy. This article shows you simple ways to d...

Chapter 7 Bankruptcy -- Who Can't File?

In order to be eligible for Chapter 7 bankruptcy, you must meet several criteria.

Filing a Chapter 7 Bankruptcy: Basic Steps

A summary of what's involved in a typical Chapter 7 bankruptcy.

Your Car in Chapter 7 Bankruptcy

People often wonder how Chapter 7 bankruptcy will affect their ability to keep their car.