Bankruptcy is a drastic way to protect yourself against creditors. For some people, filing for bankruptcy is a hard pill to swallow when they consider themselves to be responsible and efficient individuals. You should remember though that bankruptcy is designed to give you a fresh start in life so don’t hesitate to take advantage of [...]
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Bankruptcy Chapter 7 Information
Chapter 7 Bankruptcy, sometimes called a fresh start, is a liquidation proceeding for both individuals or businesses hopelessly mired in debt and possibly facing foreclosure. All non-exempt property of the debtor is turned over to the bankruptcy trustee. If there are substantial assets the trustee converts those to cash and distributes it to the debtor’s [...]
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