FindLaw | Find a Lawyer. Find Answers.
Are you a legal Professional?
My current location:
,
| Change location
ABA Family Legal Guide
Consumer Bankruptcy
Straight Bankruptcy: Chapter 7
Chapter 7 in Action
- What property will I be required to turn over to the Trustee?
- I have some items that probably won't be exempt, but it is really important to me not to lose them. Can I do anything?
- Do I have to pay the redemption costs all at once?
- Do I have any other options to hang onto my property?
- If I decide to reaffirm, do I have any protections to prevent the creditor from going against the agreement and simply repossessing the property?
- Can I keep my property and just continue to make payments and not redeem or reaffirm?
- There is property that I want to protect from bankruptcy, can't I just transfer title to a relative before I file?
- After I submit all of the paper work to the court, what happens next?
- What will I have to do?
- So what exactly does the Trustee do?
- How does the Trustee decide which creditors get paid, and in what order?
Copyright © 2004 American Bar Association