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Chapter 7

Can I Keep My Tax Refund in Chapter 7 Bankruptcy?

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 ...

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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.

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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...

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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...

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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 ...

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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...

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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...

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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...

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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 ...

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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.

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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.

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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.

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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.

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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...

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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...

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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...

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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...

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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...

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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 ...

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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.

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Common Mistakes Made on the Bankruptcy Means Test

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

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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.

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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 ...

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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.

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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...

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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...

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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 ...

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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 ...

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“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

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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...

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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 ...

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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 ...

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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.

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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 ...

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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...

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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...

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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?

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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...

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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.

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Surrendering Secured Property in Chapter 7 Bankruptcy

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

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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.

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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 ...

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Secured Debts in Chapter 7 Bankruptcy: An Overview

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

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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....

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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 ...

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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

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Is Chapter 7 Bankruptcy the Right Choice for You?

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

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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...

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Chapter 7 Bankruptcy -- Who Can't File?

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

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Filing a Chapter 7 Bankruptcy: Basic Steps

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

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Your Car in Chapter 7 Bankruptcy

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

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