Bankruptcy
Can
Be A 10 Year Mistake!
Credit Card Problems? Toll
Free Alternative To Bankruptcy:
Click
for alternative to bankruptcy
Chapter 7
Chapter 7 or "straight
bankruptcy" requires the debtor to liquidate all non exempt assets to pay
off their creditors in order of precedence.
This form is generally used by those who lack sufficient income to cover outstanding debts after taking care of basic
necessities. This is the most popular form because it allows the debtor to
wipe the slate clean and get a fresh start. There are however, certain obligations that
are not dischargeable, for example:
-
Alimony and child support
-
Back taxes and student loans
-
Recently made purchases for substantial amounts
-
Property executed contracts involving titles or liens
|
Did you
know...
Lenders
are lobbying congress to make it more difficult to file
a
chapter 7 and force consumers into chapter 13? |
Before considering this drastic step you should
take an inventory of the types of debt owed. This form of bankruptcy should be
considered a option of last resort after all other avenues have been pursued.
Keep in mind bankruptcy either chapter 7 or chapter 13 doesn't come without
some long term consequences.
Free
consultation- click here
[ Intro
| Chapter 7 |
Chapter 13 ]
[ Repercussions |
Free
Debt Quote | Reach Us
]
1 Bankruptcy
Alternative
Chapter 7 & Chapter 13 Considerations
All
rights reserved. 1999, 2000
|
