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ABA Family Legal Guide
Consumer Bankruptcy
Straight Bankruptcy: Chapter 7
Chapter 7 Defined
- What is Chapter 7 Bankruptcy?
- What debts will not be eliminated if I file for Chapter 7?
- I have decided to file for Chapter 7 bankruptcy, what will happen first?
- What is credit counseling?
- After I complete credit counseling, what is the next step?
- Will it cost me anything to file a Chapter 7 petition? What happens if I can't pay?
- What are all these forms I am expected to fill out?
- What should I list as my liabilities?
- I just realized I forgot to list a creditor on my schedule of liabilities – what should I do?
- What should I include on my assets schedule?
- Do I have to include what I will earn after I file?
- Will I lose some of my assets if I file for Chapter 7?
- What happens to my encumbered assets during a bankruptcy?
- What is the situation with unencumbered assets?
- What are exempt assets?
- Can I convert any non-exempt assets into exempt assets without losing my bankruptcy discharge or my exemptions?
- So what assets are exempt?
- So if the value of my house is more than the exempt value, will I lose it? What exactly does the above list mean?
- Do exemptions vary much between states?
- How do exemptions work if you are married?
- How do exemptions work if my creditor has a security interest in the property?
Copyright © 2004 American Bar Association