Chapter 7 Bankruptcy Lawyers - NATIONWIDE
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Bankruptcy Attorney>>>
Chapter
7 Bankruptcy Information
WHAT
IS CHAPTER 7?
The
chapter of the Bankruptcy Code providing for "liquidation,"
i.e., the sale of a debtor's nonexempt property and the distribution
of the proceeds to creditors. Top chapter 7 trustee A person appointed
in a chapter 7 case to represent the interests of the bankruptcy estate
and the unsecured creditors. (The trustee's responsibilities include
reviewing the debtor's petition and schedules, liquidating the property
of the estate, and making distributions to creditors. The trustee may
also bring actions against creditors or the debtor to recover property
of the bankruptcy estate.)
Select
a State to contact a Chapter 7 Bankruptcy Lawyer>>>
Fast
Facts about Bankruptcy
There are different types of bankruptcy, which are detailed in our FAQ's
section of this Web site. Briefly, consumers can either immediately
discharge all of their debts (Chapter 7)
or slowly pay a percentage of them off over time as they continue to
work and earn income. (Chapter 13) Businesses
can enter what's called "bankruptcy protection" (Chapter
11) while they reorganize themselves in a way that's acceptable
both to their creditors and to the United States Bankruptcy Court. Bankruptcy
law is federal in nature, and therefore is under the jurisdiction of
federal law and courts.
Every
bankruptcy involves a process by which debts are eliminated. Each bankruptcy
takes time and effort, and you must organize your debts concisely in
order to have a successful bankruptcy filing. Any licensed attorney
specializing in the field of bankruptcy is more than qualified to guide
you through this process. Please see our attorney directory to locate
an bankruptcy attorney near you!
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