may file for bankruptcy in a federal court under Chapter 7... The value of property that can be claimed as exempt varies... espoused, i.e., a formal means test for Chapter 7. The Bankruptcy...
Chapter 7, known as “straight” or “liquidation” bankruptcy, of Title 11 in the U.S. bankruptcy code controls the process of asset liquidation.
Chapter 7 bankruptcy can erase your overwhelming debt, such as from credit cards. Here's what you need to know about Chapter 7 bankruptcy and how to file.
Debtors should be aware that there are several alternatives to chapter 7 relief. For example, debtors who are engaged in business, including corporations, partnerships, and sole proprietorships, may prefer to remain in business and avoid liquidation. Such debtors should consider filing a petition under chapter 11 of the Bankruptcy Code. Under chapter 11, the debtor may seek an adjustment of debts, either by reducing the debt or by extending the time for repayment, or may seek a more comprehensiv...
Can I Keep My Business If I File for Chapter 7 Bankruptcy?. The type of small business you own determines the effect a Chapter 7 bankruptcy case will have on it. When a company files for Chapter 7...
"Infowars" host Alex Jones asked a U.S. judge Thursday to convert his bankruptcy into a Chapter 7 liquidation.
In Chapter 7 bankruptcy, one way to keep the property is to reaffirm the debt. You and the lender will enter into a reaffirmation agreement and file it with the cou
creditors can file with a federal bankruptcy court for protection under either Chapter 7 or Chapter 11. In Chapter 7, the business ceases operations, a trustee sells all of its assets, and...
There are two main types of business bankruptcies in the U.S.: Chapter 7, or “liquidation bankruptcy,” and Chapter 11, or “rehabilitation bankruptcy.”
A filer must be a natural person and meet income qualifications to have debts wiped out in Chapter 7 bankruptcy. Also, there can’t be any evidence of fraud or a mi