About Chapter 7 Bankruptcy

  

What is chapter 7 Bankruptcy 

What is Chapter 7 bankruptcy and should I file? If you owe more than $20,000 in unsecured debt, have limited assets and income, and cannot afford to pay your debts, Chapter 7 might be an option worth considering. Chapter 7 is a liquidation bankruptcy. What that means is that your non-exempt assets will be sold to pay creditors. Most, or all, of the remaining unsecured debts will likely be forgiven. Some notable exceptions are certain fines,