There are several different types of bankruptcy, including consumer and business bankruptcy, liquidation and reorganization bankruptcy. Chapter 7 bankruptcy is liquidation bankruptcy both for consumers and for businesses. In liquidation bankruptcy or Chapter 7 bankruptcy, your responsibility of paying off your debts is completely relieved and the debts disappear, though not without leaving a mark on your credit history. Unfortunately, this can be quite harmful to your credit score and report, so having the right information on the subject is important when it comes to making educated decisions about your financial future.

Chapter 7

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Chapter 7 Bankruptcy Basics

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Delaware Bankruptcy Basics

Most bankruptcies are filed as Chapter 7 bankruptcies, which are often referred to as liquidations or straight bankruptcies...

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Chapter 7 an Option

You may have heard people say that it has gotten difficult to file for Bankruptcy.  You may have heard that the laws have changed and you cannot file...

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Chapter 7 Questions

Commonly referred to as “straight Bankruptcy,” in this kind of Bankruptcy the debtor does not set up a plan to pay creditors. The debts are simply...

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Chapter 7 Bankruptcies

Chapter 7 Bankruptcies are a way to get a fresh start. However, under the new law passed a few years ago, you must meet certain criteria before you ...

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Filing Chapter 7 Bankruptcy

The recent downturn of the American economy undoubtedly fueled by the mortgage crisis and weakening dollar, plagues the minds of many of American pe...

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Chapter 7 Exemptions

When a debtor files for Chapter 7 bankruptcy, he will submit a list of property he wishes to keep and withhold from the bankruptcy estate.

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Preparing for the Creditors Meeting

Regardless of the chapter under which a petition is filed, every debtor will have to go to court. However, in order to avoid any bias the judge is n...

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Bankruptcy Exemptions

There are exemptions for people filing for bankruptcy but the exemptions vary from state to state and are based on each individual case.

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Guide to Chapter 7

When most people think of filing for bankruptcy, they no doubt think of something akin to Chapter 7 liquidation. In Chapter 7, the debtor turns over...

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Bankruptcy Glossary

In order to get a better understanding of bankruptcy law, you'll need to know all the basic bankruptcy terminolgy. Below you'll find a comprehensive...

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Bankruptcy: Chapter 7

Chapter 7 bankruptcy filing does not require a debt repayment plan.  In accordance with the Bankruptcy Code, the court appointed bankruptcy trustee...

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Liquidation Bankruptcy

Because of the recent changes in the law many Americans mistakenly believe that they are no longer eligible to file for bankruptcy. Although this ma...

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