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What is Chapter 7 summary?

What Is Chapter 7 Bankruptcy? Chapter 7 is a type of bankruptcy that wipes out most or all of your debt by forcing you to sell your assets (anything you own that has value) to pay back your creditors (the people you owe money to).

What Chapter 7 bankruptcy can do for You?

The situation usually gets worse the longer you avoid confronting your financial problems, but a Chapter 7 bankruptcy can provide immediate relief. A Chapter 7 bankruptcy (also called “Liquidation Bankruptcy”) essentially allows you to permanently avoid most unsecured financial debts.

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