article thumbnail

What you should know about Chapter 7 bankruptcy in Tennessee

Roths Child Law

Many consumers file for Chapter 7, which is known as the liquidation bankruptcy, or Chapter 13, which is known as the wage-earner’s bankruptcy. For people who are considering a Chapter 7 bankruptcy, understanding what this process entails is important.

article thumbnail

Who Can Declare Chapter 7 Bankruptcy?

Sawin & Shea

If you’re struggling with overwhelming debts, Chapter 7 bankruptcy could be your best option. Chapter 7 is the most common form of bankruptcy for individuals and families, and it allows you to discharge many of your unsecured debts within only a few months. What is Chapter 7 Bankruptcy?

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Types of Property Subject to Seizure in Chapter 7 Bankruptcy

Sawin & Shea

Filing Chapter 7 bankruptcy provides numerous Indiana residents with debt relief. Fortunately, the vast majority of Chapter 7 filers are able to retain all of their property while also discharging their debts. Indiana Chapter 7 Bankruptcy Exemptions.

article thumbnail

Understanding the Chapter 7 bankruptcy means test in Tennessee

Roths Child Law

The bankruptcy means test is a crucial component of the bankruptcy process introduced as part of the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA). It is designed to prevent higher-income individuals from filing for Chapter 7 bankruptcy. Are you considering bankruptcy?

article thumbnail

What Can I Keep if I File For Chapter 7 Bankruptcy?

Sawin & Shea

In this article, we will walk you through Indiana debt collection laws and some of the many exemptions that help you keep your personal, real, or intangible assets when you file for a Chapter 7 in the State of Indiana. What is Chapter 7 Bankruptcy? The post What Can I Keep if I File For Chapter 7 Bankruptcy?

article thumbnail

What are the disqualifiers to filing for Chapter 7 bankruptcy?

Roths Child Law

Many consumers who find themselves unable to pay their bills look to different debt relief options to gain a fresh financial start, including bankruptcy. Chapter 7 bankruptcy can provide you with that clean financial slate that you're looking for where you can wipe away most of your debts. Not passing the means test.

article thumbnail

Questions to Ask a Chapter 7 Bankruptcy Lawyer Before Filing for Bankruptcy

Sawin & Shea

At Sawin & Shea, LLC, our Chapter 7 Bankruptcy lawyers have helped clients just like you in the Indianapolis and surrounding areas. What is Chapter 7 Bankruptcy? When you file a Chapter 7 bankruptcy, it is only your unsecured debts that will be eligible for discharge.