The Pros and Cons of Filing for Chapter 7 Bankruptcy
One of the more complex aspects of bankruptcy is choosing between Chapter 7 and Chapter 13. For a little background about deciding whether Chapter 7 might be the right choice for you, take a look at this video.
In a Chapter 7 bankruptcy, you turn over your nonexempt assets to a trustee, who sells them and divides the proceeds among your creditors. Hence, if you have a lot of assets that you would like to keep, this might not be the right type of bankruptcy for you.
Can you discharge student loans in bankruptcy?
We’ve got great news for you! Student-loan holders now have a new path to freeing their debt…
For a bankruptcy petition to proceed, filers must meet two educational requirements. The first is an approved credit counseling course, which…