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An Overview Of Chapter 7 Bankruptcy
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Chapter 7 bankruptcy is sometimes called "straight" bankruptcy. This bankruptcy cancels most of your debts; in exchange, you might have to surrender some of your property.
The whole Chapter 7 bankruptcy process usually takes three to six months, costs about $175 in filing fees, and commonly requires only one trip to the courthouse.
To f .... Middle of paper
.... utility service or welfare benefits.
Until your bankruptcy case ends, your financial problems are in the hands of the bankruptcy court. It assumes legal control of the property you own, except your exempt property, which is yours to keep) and the debts you owe as of the date you file. Nothing can be sold or paid without the court's consent. You have control, however, with a few exceptions, of property and income you acquire after you file fo ....
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Number of words: 806
Number of pages: 3 (approx. 250 words per double-spaced page)
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