Chapter 7

Chapter 7 Bankruptcy

  • Will I lose everything that I own? No, this is a popular myth. In the vast majority of cases you can keep your home and your car along with all your other assets.
  • What does a Chapter 7 bankruptcy do? It will eliminate all unsecured debt such as credit cards, medical bills, personal loans, deficiency balanaces, lawsuits and garnishments.
  • What about my credit? In most cases your credit will rebound quickly. Most people find their credit scores improving 30 to 100 points in the first year following a bankruptcy discharge.