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.
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.
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.
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.
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.
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.