Chapter 7 Bankruptcy
Learn how Chapter 7 bankruptcy works, whether you can pass the eligibility "means test," what happens to your home and car in Chapter 7, which debts will be discharged by Chapter 7 bankruptcy, and more. These articles provide information for both individuals and business owners considering Chapter 7 bankruptcy.
Introduction to Chapter 7 Bankruptcy
Introduction to Chapter 7 Bankruptcy
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A Chapter 7 Bankruptcy Overview
Learn the basics about Chapter 7 bankruptcy, how it works and what it can do.
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The Chapter 7 Bankruptcy Process: An Overview
Learn about the typical steps in a Chapter 7 bankruptcy.
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Filing a Chapter 7 Bankruptcy: Basic Steps
When filing for Chapter 7 bankruptcy, your case should move forward predictably. Here's a summary of what's involved in a typical Chapter 7 bankruptcy.
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Get answers to common questions about Chapter 7 bankruptcy.
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What Is a Chapter 7 No-Asset Bankruptcy Case?
The majority of Chapter 7 bankruptcies are no-asset cases. Find out what that means.
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Average Attorney Fees in Chapter 7 Bankruptcy
Learn about average bankruptcy attorney fees in Chapter 7, deceptive fee advertisements, and what it means if your court has presumptive or no-look fee amounts.
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What Debts Must I Continue to Pay During My Chapter 7 Bankruptcy?
When you file for Chapter 7 bankruptcy, you begin the process of obtaining a fresh financial start. That means you do not have to pay debts that are dischargeable in your bankruptcy, and should stop paying those debts once you have filed.
Is Chapter 7 Bankruptcy Right for You?
Is Chapter 7 Bankruptcy Right for You?
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Is It Better To File A Chapter 7 or 13 Bankruptcy?
There are several reasons why Chapter 7 bankruptcy can be more advantageous to certain debtors than Chapter 13 bankruptcy.
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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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Chapter 7 Bankruptcy: What Will It Cost and Will It Wipe Out My Debts?
We asked readers across the U.S. about their recent experiences with Chapter 7 bankruptcy. Here’s an overview of what they told us.
Getting Rid of Debts in Chapter 7
Getting Rid of Debts in Chapter 7
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Nondischargeable Debts in Chapter 7 Bankruptcy
Learn about the types of debt that cannot be wiped out in bankruptcy.
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Which Debts Can You Discharge in Chapter 7 Bankruptcy?
Learn about the debts that are "discharged" or eliminated when filing for Chapter 7 bankruptcy protection.
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Does Chapter 7 Bankruptcy Fall Off a Credit Report?
Learn how long Chapter 7 bankruptcy (and Chapter 13 bankruptcy) will stay on your credit report.
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The Bankruptcy Means Test: Are You Eligible for Chapter 7 Bankruptcy?
Find out if you're eligible for Chapter 7 bankruptcy by learning about the Chapter 7 bankruptcy means test. We explain the calculation process you'll use to determine whether you'll qualify for Chapter 7 bankruptcy.
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Common Mistakes Made on the Bankruptcy Means Test
The means test helps you determines if you are eligible for Chapter 7 bankruptcy and the length of your plan in Chapter 13 bankruptcy. The lengthy form can be complicated to fill out. Find out some of the most common mistakes made when completing it, as well as if you have to fill it out at all.
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Learn about secured debts and how creditors can collect them.
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Credit Card Debt in Chapter 7 Bankruptcy
In Chapter 7 bankruptcy, debtors are usually able to discharge (wipe out) credit card debts. Generally, credit card debts are treated like other unsecured claims in Chapter 7 cases.
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Student Loan Debt in Bankruptcy
Most debtors can’t “discharge” or wipe out student loan debt in Chapter 7 or Chapter 13 bankruptcy. However, if you can prove that repaying your student loans would cause you undue hardship, you can get rid of your student loans in bankruptcy.
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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 are considering bankruptcy, you should learn about these limits.
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Can I keep a checking account if I file for Chapter 7 bankruptcy?
You can probably keep your checking account in Chapter 7 bankruptcy if the funds are exempt and you don't owe money to the bank.
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Your Home in Chapter 7 Bankruptcy
Whether Chapter 7 bankruptcy makes sense when you own a home depends on your goals -- do you want to save your house, delay foreclosure, or just walk away with less debt?
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Should I File for Chapter 7 or Chapter 13 If I Want to Keep My Home?
Find out whether you can keep your house in Chapter 7 or Chapter 13 bankruptcy. You'll learn about protecting home equity in Chapters 7 and 13, keeping a house in Chapter 7, catching up on past-due payments in Chapter 13, and removing liens and lowering mortgage payments in Chapter 13.
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Can My Mortgage Lender Refuse to Send Monthly Statements After Bankruptcy?
Here's what to do if your mortgage servicer won't send mortgage statements after your bankruptcy.
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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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Can an undocumented immigrant file for bankruptcy?
If you are an undocumented immigrant, you can file for bankruptcy if you have a valid Social Security Number or ITIN.