Remove Garnishment Remove Government Remove Repossession Remove Unsecured Debt
article thumbnail

Who Can Declare Chapter 7 Bankruptcy?

Sawin & Shea

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. Chapter 7 bankruptcy is a form of personal bankruptcy that liquidates filers’ assets to discharge qualifying unsecured debts. What is Chapter 7 Bankruptcy?

article thumbnail

10 Common Questions About Bankruptcy

Debt Free Colorado

What Debts are Discharged in Bankruptcy? Unsecured debts , including credit card and medical bills, as well as some judgments or past taxes, may be discharged. What Can’t Bankruptcy Do?

article thumbnail

Bankruptcy Chapter 7 vs 13: Which Is The Best Option?

Debt Free Colorado

The United States Bankruptcy Code governs both chapter 7 and chapter 13 bankruptcy. Chapter 7 is a disaster when it comes to secured debt. . Chapter 7 will not assist you if your primary source of debt is a mortgage, auto loan, or other kinds of debt. Additionally, not all unsecured debt is dischargeable under Chapter 7.