A Chapter 7 Bankruptcy Overview

Chapter 7 bankruptcy provides a safety net that helps individuals and families struggling to pay monthly bills regain their economic footing. It works by quickly erasing qualifying debt without requiring you to repay creditors, putting an end to most collection actions, including wage garnishments and lawsuits, and temporarily stopping foreclosures, evictions, and repossessions.

What Is Chapter 7 Bankruptcy? Understanding Liquidation and Debt Discharge

Chapter 7 bankruptcy is a "liquidation" bankruptcy where a trustee sells property to pay creditors. In exchange, filers receive a "discharge" order erasing their qualifying debts about four months after filing. Before getting into the details, it will help to understand these basics.

• Debts. You can erase "dischargeable" debts, like credit card debt and medical bills. You remain responsible for paying "nondischargeable" debts, like student loans, recent taxes, and child support.
• Property. You can keep "exempt" property covered by bankruptcy exemption laws, which usually includes necessary items like household goods, clothing, a modest car, a retirement account, and potentially your home. The trustee sells "nonexempt" property, which usually consists of unnecessary luxury items, like boats, rental property, and valuable collections.
• Who qualifies? Eligibility is determined by a "means test" that analyzes your income, household size, and expenses. You pass if you don't have enough "disposable income" to repay your creditors. There are also restrictions on refilling too soon.
• The process. You'll need to take a credit counseling course, complete detailed forms, submit financial documents, attend the "341 meeting of creditors" conducted by the trustee, and take a debtor education course before receiving your discharge.
• Effects of Chapter 7. The automatic stay immediately stops most creditor actions when you file. Filing for bankruptcy will negatively impact your credit, but erasing debt also allows you to rebuild your financial future.
• Alternatives. Other options like debt negotiation and Chapter 13 bankruptcy are available if Chapter 7 isn't the right fit.

While this article explains Chapter 7 bankruptcy, it doesn't replace personalized advice provided by a bankruptcy attorney.

Chapter 7 vs. Chapter 13: Choosing the Right Debt Solution

Chapter 7 will likely be a good option if your income qualifies and you won't lose property you want to keep. However, sometimes Chapter 7 doesn't offer the relief you need, so it's good to figure out whether you should choose between Chapter 7 vs. Chapter 13 bankruptcy. For instance, Chapter 13 might be a better option if:

• Your income is too high for Chapter 7. However, you won't automatically qualify.
• You'd lose property in Chapter 7. The Chapter 13 trustee doesn't sell property—you keep everything you own, but you pay creditors the value of nonexempt property.
• You're behind on your mortgage or car loan. Keeping property with a lien on it requires staying current on payments. Chapter 13 allows you to stop foreclosure or repossession and catch up on missed payments so you don't lose the property.
• Chapter 7 won't address all your debts. You might have debts that aren't dischargeable in Chapter 7 but can be repaid or potentially discharged in Chapter 13. Examples of nondischargeable debts you can repay over time include recently incurred income tax debts and domestic support arrearages. Other debts are discharged in Chapter 13's "super discharge," but not in Chapter 7, such as taxes charged on a credit card and obligations incurred from a divorce decree that aren't domestic support obligations.
• You want to protect a codebtor. Chapter 7 doesn't protect codebtors or cosigners—creditors can collect immediately. That's not the case in Chapter 13. Creditors can't collect against codebtors and cosigners during a Chapter 13 case.
• You operate a sole proprietorship that relies on costly equipment. Sole proprietors lose business equipment they can't protect with an exemption in Chapter 7, which can shut down the company. In Chapter 13, a sole proprietor can pay creditors the value of nonexempt equipment through the Chapter 13 plan and keep the things they need to run the business.

Pros and Cons of Filing Chapter 7 Bankruptcy Compared to Chapter 13

Below is a table comparing Chapter 13 and Chapter 7 bankruptcy to help you determine which would be best for you.

Dischargeable Debts in Chapter 7 Bankruptcy: What You Can and Can't Erase

Learn which debts you can eliminate, which you can't, and when charges might be considered fraudulent.

Debts Eliminated by Chapter 7: Credit Cards, Medical Bills, and More

Chapter 7 erases many of the obligations you likely have. The debts you can discharge in bankruptcy include:

• credit card balances
• medical bills
• personal loans
• unpaid rent and utility payments
• gym memberships and other fees
• payday loans
• deficiency balances on repossessed vehicles
• older tax debts, and
• lease obligations, including those for cars and commercial and residential properties.

Example. After losing his job, Sam couldn't meet his monthly bills and moved in with a friend, who explained how he got back on his feet by filing for Chapter 7 bankruptcy. After meeting with a bankruptcy lawyer, Sam filed for Chapter 7 and was able to discharge $20,000 in credit card debt, $10,000 in dental bills from a past reconstruction, and the unpaid rent from his previous apartment. During the Chapter 7 process, he was able to find a new job and restart his life free of debt.

Tip. Necessary items charged shortly before bankruptcy can be discharged, but make sure they're basic things needed to live, like food, inexpensive winter boots, and needed repairs on a car you use to get to work. Keep receipts in case the trustee or creditor questions the expenses.

Debts You Can't Discharge in Chapter 7 Bankruptcy

A creditor or trustee can challenge the dischargeability of any debt by filing an adversary proceeding (lawsuit) within the bankruptcy case. However, there are a few debts that you'll remain responsible for paying in every case:

• Most student loans. It's possible to discharge student loans in a bankruptcy trial called an "adversary proceeding" if you can prove "undue hardship." Because it's a difficult standard to meet, most student loans aren't discharged.
• Child support and alimony. Obligations for domestic support, such as child support and alimony, are always nondischargeable.
• Certain taxes. Recent tax debts less than three years old and tax liens generally aren't dischargeable.
• Debts incurred through fraud or willful and malicious injury. You can't discharge debts that a creditor proves were obtained through fraud or resulted from intentionally and maliciously causing harm to a person or property.
• Debts from intoxicated driving. Debts arising from a judgment for driving under the influence of alcohol or drugs aren't dischargeable.
• Government fines and penalties. Debts assessed by government agencies that are meant to punish you aren't dischargeable.

Example. Heather filed for Chapter 7 after graduating from college. She was able to erase her credit card debt but, on the advice of counsel, didn't file an adversary proceeding to try to discharge her $75,000 in federal student loan debt. The lawyer explained that because she was employed and earned a reasonable income, she likely wouldn't be able to prove the "undue hardship" standard.

Your Property in Chapter 7 Bankruptcy: Exemptions and Nonexempt Assets

The news is good—you won't lose everything, and many people can keep everything they own. The Chapter 7 trustee can't sell property considered "exempt" under federal and state bankruptcy exemption laws, only "nonexempt" property that isn't covered by an exemption.

Protecting Your Assets: Chapter 7 Bankruptcy Exemptions Explained

Common examples of exempt property include:

• some home equity (homestead exemption)
• some vehicle equity (motor vehicle exemption)
• clothing, household goods, and furnishings
• some jewelry
• some tools of your trade
• retirement accounts, and
• public benefits, such as Social Security and unemployment.

Example. Carlos listed everything he owned on Schedule A/B and filed it as part of his Chapter 7 petition. His property included furniture, kitchenware and linens, a television, a computer, a cellphone, clothing, books, a vehicle, and other ordinary household items, all several years old and not particularly valuable. Because bankruptcy exemptions covered everything Carlos owned, he was able to keep all his belongings in bankruptcy.

Federal vs. State Bankruptcy Exemptions: Which Laws Apply to Your Case?

Both federal and state laws provide lists of exempt property, and ultimately, your state decides which set you can use. So the first step is to examine the bankruptcy exemptions allowed by your state to determine if you must use your state's exemptions or whether you can use the federal bankruptcy exemptions.

Tip. A simple way to determine whether Chapter 7 makes sense is to subtract the value of the property you'd lose from the debt you'd erase. If you'd come out significantly ahead, filing will likely be a sound financial decision.

Keeping or Surrendering Nonexempt Property in Chapter 7

If you have nonexempt property that you want to keep, most trustees will let you repurchase it for its fair market value, with many giving you a discount of up to 20% to take into account the sales costs.

Example. Joseph filed for Chapter 7 bankruptcy and exempted all his property on Schedule C except for his baseball card collection, which was worth $5,000. The trustee offered to sell it back to Joseph for $4,000, a 20% discount. Joseph declined and turned over the baseball cards to the trustee.

Tip. It might cross your mind to sell nonexempt property and purchase exempt property. Before doing this, consult a bankruptcy lawyer. Depending on the extent of the transaction and the laws of your jurisdiction, it might be considered a fraudulent attempt to avoid paying creditors.

How the Bankruptcy Trustee Pays Creditors: Order of Debt Payments

When you have nonexempt assets, the trustee uses those assets to pay debts in a particular order. Priority debts include recently incurred income taxes and domestic support obligations. Bankruptcy law requires these important debts to be paid before any others, and they aren't often discharged. Nonpriority unsecured debts, such as credit cards and medical bills, aren't paid unless funds remain after paying priority debts.

The trustee doesn't use sales proceeds to pay secured debts, like car loans and mortgages, except in one situation—when the trustee sells the property. Because secured lenders have a lien attached to the property, the trustee must pay the lender in full before using the remaining proceeds to pay priority and nonpriority unsecured creditors.

Tip. If you have priority debts, a property sale by the trustee isn't quite so bad. The sales proceeds will be used to pay down the balance, which is good because you continue owing these nondischargeable debts after the case.

Learn more about secured, unsecured, and priority debts in bankruptcy.

Chapter 7 Eligibility: Understanding the Means Test and Other Requirements

Not everyone is eligible to file for Chapter 7 bankruptcy. To qualify, you must meet several requirements, the most challenging of which is passing the "means test."

Understanding the Chapter 7 Means Test and Income Calculation

The means test determines whether your income is low enough that you can't afford to repay a portion of your unsecured debts. It compares your average monthly income over the six months before filing with the median income for a household of your size in your state.

• Your income is below the state median. You pass the means test and qualify for Chapter 7.
• Your income is above the state median. You must perform a more detailed calculation, deducting certain allowed expenses (such as taxes, mortgage payments, and necessary living expenses) from your income. If the remaining amount (your "disposable income") is below a certain threshold over five years, you could still qualify for Chapter 7. However, if the means test indicates you can afford to repay some of your unsecured debts, you might be required to file Chapter 13 instead.

Tip. You'll want to learn about means test exceptions, along with expenses that will help you pass the means test. For instance, if your debts are primarily business debts, you won't need to take the means test.

Impact of Income, Timing, and Prior Bankruptcy Filings on Eligibility

The timing of your bankruptcy can affect your eligibility and the look-back period for your income. However, sometimes it can be in subtle ways you don't expect.

You might still pass the means test if you file soon after a significant income boost because the means test averages your income over six months. However, you shouldn't assume you'll actually qualify for Chapter 7 because the trustee will also consider your current income and expenses reported on Schedules I and J. If they show you have disposable income you could use to pay creditors, the trustee will recommend a conversion to Chapter 13, even though you passed the means test.

Waiting periods between discharges also prevent the system from being used to intentionally avoid paying creditors.

• You previously filed for Chapter 7. You must wait eight years from the date you filed the previous Chapter 7 case to receive another Chapter 7 discharge.
• You previously filed for Chapter 13. You must wait six years from the date you filed the previous Chapter 13 case before receiving another Chapter 7 discharge, unless you paid back 100% of your unsecured debts in the Chapter 13 plan, or you paid back at least 75% of your unsecured debts and the previous filing was in good faith.

If you file early, you won't be entitled to a discharge. The trustee will sell your property, pay creditors, and charge you a percentage for the efforts, leaving you responsible for any remaining balances. You'd likely do better to sell your property and negotiate with creditors outside of bankruptcy.

Tip. Filing for Chapter 13 without a discharge has benefits. You can force creditors into a payment plan and avoid creditor collection efforts under the protection of the bankruptcy court. Some jurisdictions even allow you to discharge qualifying debts in Chapter 7 before immediately filing Chapter 13 and proposing a Chapter 13 plan to pay nondischargable debts over time.

When to Avoid Filing Chapter 7 Bankruptcy

Property transfers are evaluated up to ten years and can be unwound for the benefit of creditors (although a one- to two-year look back is more common for most transactions). If you've transferred property or paid family or business associates within the past year or two, you'll want to consult with a bankruptcy lawyer about timing issues. Other issues the lawyer will review will include gifts and large creditor payments made shortly before bankruptcy.

To prevent Chapter 7 problems, it's essential that you don't try to use it to cover up inappropriate transactions and that you follow all bankruptcy procedures. The bottom line is that you don't want to hide property or give it away to prevent the trustee from selling it in Chapter 7.

Preparing for Chapter 7 Bankruptcy: Essential Documents and Steps

Filing for Chapter 7 bankruptcy requires you to produce a detailed picture of your entire financial situation. Commonly required documents include:

• the official petition, Schedules A/B, C, D, E/F, G, H, I, and J, the Statement of Financial Affairs, and more (get the bankruptcy forms)
• means test forms, such as 122A-1 and 122A-2
• tax returns, usually two
• pay stubs covering at least six months
• banking and retirement statements covering at least six months
• titles, loan documents, and current asset and liability documentation, and
• completed prebankruptcy credit counseling certificate.

Incomplete paperwork is a common cause of delay or dismissal. For more on what you'll need to gather, start with What Forms Do I Need to File in Chapter 7 Bankruptcy?

The Chapter 7 Bankruptcy Process: A Step-by-Step Timeline

Filing for Chapter 7 bankruptcy involves accomplishing multiple tasks. Understanding what to expect will help you prepare properly and ensure a smooth process, which usually takes about four to six months. You'll obtain credit counseling before you file, attend the 341 meeting about 20-40 days after filing, and receive the discharge about 60 days after the meeting.

Here's a breakdown of the process:

1. Required Credit Counseling Before Filing

During the 180 days before filing for bankruptcy, you must complete a credit counseling course from an approved agency intended to help you explore alternatives to bankruptcy. You'll need the completion certificate when you file your case.

2. Filing Your Bankruptcy Petition and Schedules

You, or your attorney, start the bankruptcy by filing a "bankruptcy petition" with the court. The petition is a lengthy document that includes detailed information about your assets, liabilities, income, expenses, and creditors. You'll need to gather many financial documents to complete the forms, such as tax returns and pay stubs. You'll attach the credit counseling completion certificate to the petition.

3. The Automatic Stay—How Filing Stops Collections

Once you file the petition, schedules, and forms, the "automatic stay" goes into effect, stopping most creditors from taking collection actions. For instance, calls and letters, most wage garnishments, and collection lawsuits will come to a halt, with the debts likely being eliminated in the case. Foreclosures, repossessions, and evictions will also stop. Still, they'll likely continue once you receive the discharge, or even before if the creditor successfully asks the court to lift the automatic stay.

You can handle foreclosures and repossessions more permanently in Chapter 13. Bankruptcy doesn't help fix eviction problems for the most part. The stay is usually temporary in both chapters.

4. The Role of the Bankruptcy Trustee

As discussed in the section on property, the court appoints a bankruptcy trustee to administer your Chapter 7 case. The Chapter 7 trustee's role is to review your petition and schedules, identify and liquidate nonexempt property, and distribute the proceeds to your creditors.

5. The 341 Meeting of Creditors Explained

Within approximately 20 to 40 days after filing your petition, you will be required to attend a meeting of creditors, often referred to as the "341 meeting" (named after the section of the bankruptcy code that requires it). Despite the name, creditors rarely attend this meeting. The primary purpose is for the bankruptcy trustee to:

• verify your identity
• ask questions about your bankruptcy petition and financial situation, and
• determine if you have any nonexempt property.

You must attend this meeting, and you will be under oath while answering the bankruptcy trustee's questions.

6. Review of Exempt and Nonexempt Property

After the 341 meeting, the trustee will continue to review your submitted documents and assess your property to determine what is exempt and what is nonexempt. If you have nonexempt property, the trustee will take steps to liquidate it.

7. Required Debtor Education Course

Before you can receive your bankruptcy discharge, you are required to complete a debtor education course from an approved agency. This course is designed to help you learn how to manage your finances more effectively in the future. You must complete this course after filing your bankruptcy petition.

8. Receiving Your Chapter 7 Bankruptcy Discharge

In Chapter 7, the goal is to receive the debt discharge from the court. Most people are surprised that the discharge order doesn't list the specific debts discharged in your particular case. Instead, it explains that the following debts are nondischargeable:

• domestic support
• most student loans
• most taxes
• debts declared nondischargeable by the bankruptcy court
• most fines, penalties, forfeitures, or criminal restitution obligations
• some debts not listed in the paperwork
• some loans owed to pension, profit sharing, stock bonus, or retirement plans, and
• debts for death or personal injury caused by operating a vehicle while intoxicated.

The Chapter 7 discharge order also reminds filers that if they entered into a reaffirmation agreement, the associated debt isn't discharged (reaffirmation agreements are used most commonly for vehicles, but can also be used for RVs and other secured debt). It also points out that the discharge doesn't stop creditors from collecting from cosigners and codebtors. Most other debts are dischargeable, and once discharged, creditors can't collect the debt.

If you complete all Chapter 7 requirements, including filing the debtor education completion certificate, you should receive the discharge order about 60 days after the trustee concludes the 341 meeting.

9. Closing Your Chapter 7 Bankruptcy Case

The case is typically closed a few days after the court issues the discharge order. However, it might remain open if the trustee has additional work to finish, such as selling property or resolving litigation.

Learn more about when a Chapter 7 bankruptcy case ends.

Alternatives to Chapter 7 Bankruptcy: Exploring Your Debt Relief Options

Chapter 7 isn't the only option for solving financial difficulties, and sometimes other options are more suitable. Before proceeding, you'll want to consider the benefits of Chapter 13 and other alternatives available to you. Here are some common alternatives to consider:

• Debt consolidation. Combining debts into a single loan at a lower interest rate can help you manage payments. This option is usually only available before you begin missing payments because you'll need to qualify for a loan.
• Debt management plans. Credit counseling agencies work with major credit card companies to lower your interest rate and fees, which enables you to pay off the debt in a few years. You make a single payment to the agency each month, and the agency distributes the funds. The downside is that the accounts are closed once repaid, causing a drop in your credit score. Many people could file for Chapter 7, repair their credit in a few years, and avoid payments.
• Creditor negotiation. Sometimes it's possible to negotiate lower interest rates or reduced monthly payments directly with creditors. However, most require detailed financial information and proof that you're in financial distress. Once a debt collector buys the debt, you'll have a better opportunity to settle for less than what you owe, but generally only if you can pay the agreed amount in a lump sum payment.
• Home equity loans and credit lines. If you have home equity, this is a possible approach. However, when you use your home equity to pay off loans, you're securing the debt with your home. If you can't make the payment, you'll lose it to the lender in foreclosure.
• 401(k) or retirement loan. This is another possibility, but one that bankruptcy lawyers don't like to see used. Because most retirement funds are protected in bankruptcy, it's best not to use the funds to repay credit cards, medical bills, and other debts you can erase in Chapter 7. Instead, reserve these loans for nondischargeable debts, like taxes and domestic support obligations.
• Selling assets. If you have nonexempt property that you can sell to repay your debt, consider doing so because you'll likely come out ahead. Because you won't be auctioning the property in a "fire sale," you'll likely get more for it. Plus, you won't pay yourself a fee for the effort.
• Doing nothing. This strategy is only effective for "judgment-proof" individuals. What this means is this: If you don't have any income, property, or funds a creditor can seize, and the situation won't change soon, it wouldn't matter if a creditor obtained a judgment against you. There'd be nothing they could get with it. Most employable people aren't truly judgment proof. It's more common with those who are retired or have a permanent disability. Also, seriously consider the consequences of this approach. Judgments can plague you for decades because creditors can renew them periodically.
• Chapter 13 bankruptcy. As discussed in previous sections, Chapter 13 is a viable alternative if you want to keep property you'd lose in Chapter 7, or if you'd like to get out of foreclosure or repossession and keep your home or car.

A credit counselor or bankruptcy attorney can discuss these options with you in more detail.

Frequently Asked Questions About Chapter 7 Bankruptcy

Here are answers to some frequently asked questions about filing for Chapter 7 bankruptcy.

How long does it take to complete Chapter 7?

You can expect to receive your discharge in about four to five months. The bankruptcy court will close the case after the trustee sells any nonexempt property or resolves outstanding litigation.

Will filing Chapter 7 ruin my credit score forever?

Although a Chapter 7 notation will remain on your credit report for up to ten years, the impact lessens over time. It's not uncommon for debtors to rebuild their credit surprisingly quickly after discharge.

Can I file Chapter 7 bankruptcy multiple times?

Yes, but waiting periods are in place to prevent people from routinely accumulating and discharging debt. The waiting period is eight years between Chapter 7 discharges (calculated from the filing date). If you previously filed for Chapter 13, you'll wait six years unless you repaid 75% or 100% of your unsecured debts.

Do I have to appear in court before a judge in Chapter 7?

Generally, no. All filers must attend the 341 meeting of creditors, but it's an informal hearing before the trustee appointed to your case. A bankruptcy judge isn't present.

What are the differences between secured and unsecured debt?

Common examples of secured debt include a mortgage and a car loan. The debt is backed by a lien attached to collateral, such as a house or car. If you don't pay a secured debt, the lender can seize the collateral. By contrast, typical examples of unsecured debt include major credit card balances and medical bills. These debts are unsecured because the creditor doesn't have a lien against property that the creditor can seize if you don't pay.

You can surrender the property in Chapter 7 and discharge the secured debt, or keep it by continuing payments or redeeming it. Most unsecured debts are discharged in Chapter 7 without repayment.

Can Chapter 7 help me with tax debt or student loans?

Chapter 7 can discharge some older income tax debts that meet somewhat complicated requirements (check with a lawyer), but most tax debts aren't dischargeable. Student loans can be discharged if you can prove "undue burden" in an adversary proceeding. Although this burden is difficult to meet, changes were made in recent years to streamline the process for those who qualify.

Are there any new student loan discharge developments?

It remains difficult, but not impossible, to eliminate student loan debt in bankruptcy. Since 2022, changes to federal policy have made the ‘undue hardship' process more standardized, giving some filers a better chance at a fresh start. Consult a knowledgeable bankruptcy attorney to discuss your options for paying or discharging student loans in bankruptcy.

Should business owners or self-employed filers consider Chapter 7 bankruptcy?

If you run a sole proprietorship or are self-employed and considering bankruptcy, it's imperative to list all business assets and debts. Be aware that the trustee will sell nonexempt business equipment and other property. If your business debts are substantial or if you want to keep business property, ask about Chapter 13 for business owners or subchapter V of Chapter 11. Learn about Chapter 7 bankruptcy for small businesses.

Can businesses discharge debt by filing for Chapter 7?

No. Businesses, other than sole proprietors, aren't entitled to a debt discharge. Instead, the Chapter 7 trustee sells the business property for the creditors, essentially dismantling the business. Because there isn't much benefit to Chapter 7 from a business perspective, it's rare for companies to file under this chapter. Learn more about small business bankruptcy options.

Should spouses file jointly or separately for Chapter 7?

Married couples can file a joint bankruptcy petition or file separately. Joint cases are often efficient if most debts or property are shared, but require disclosure of both parties' finances. Separate filings can help protect a non-filing spouse's assets, but might not cover shared debts. State community property rules and other laws often affect this decision, so it's best to seek professional counsel. Learn more about whether married couples should file bankruptcy together.

What should I expect to happen after bankruptcy?

Your bankruptcy discharge will soon be followed by credit card offers (usually at high interest) and new financial opportunities. Carefully review your credit report to confirm all discharged debts are marked accordingly, and use credit sparingly and wisely as you rebuild. Responsible financial habits are key to making your fresh start last. Learn when you'll qualify for a mortgage after bankruptcy.

Legal Help for Chapter 7 Bankruptcy: Why Hire a Bankruptcy Attorney?

It's possible to file your own Chapter 7 case, especially for simpler matters. However, you must follow bankruptcy laws precisely, and they don't always make logical sense. In most cases, it's well worth the cost to retain a qualified bankruptcy attorney who can:

• Determine whether you qualify for Chapter 7 after evaluating your income, expenses, assets, debts, and prior transactions, or whether another alternative might be more suitable.
• Explain whether bankruptcy exemptions will protect your assets.
• Advise you about your dischargeable and nondischargeable debts.
• Represent you throughout the process and help you avoid potential issues and pitfalls.

It's essential to look for a bankruptcy lawyer with experience in bankruptcy law. Use the free initial consultation offered by most to determine whether the lawyer can provide the expertise and support you require.

Need More Bankruptcy Help?

Did you know Nolo has made the law accessible for over fifty years? It's true, and we wholeheartedly encourage research and learning. You can find many more helpful bankruptcy articles on Nolo's bankruptcy homepage. Information needed to complete the official downloadable bankruptcy forms is on the Department of Justice U.S. Trustee Program website.

However, online articles and resources can't address all bankruptcy issues and aren't written with the facts of your particular case in mind. The best way to protect your assets in bankruptcy is by hiring a local bankruptcy lawyer.