The Basics of a Consumer Chapter 7 Bankruptcy, part 3 of 3

Posted by on Mar 2, 2011 in Bankruptcy, Consumer Debt, Debt Collections Defense, News | 0 comments As mentioned earlier, Chapter 7 bankruptcy discharges all of your unsecured debt. Here are some examples of what is considered to be unsecured debt by the court: credit card debt, personal loans you received from friends and family, any outstanding medical bills, any debt you owe as a result of a lease agreement, or any debt you incurred as a result of your business. However, it is also important...
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The Basics of a Consumer Chapter 7 Bankruptcy, part 2 of 3

Posted by on Mar 1, 2011 in Bankruptcy, Consumer Debt, Debt Collections Defense, News | 0 comments So now that you know what a Chapter 7 bankruptcy is and what it does, invariably the next question on the list is what happens once it is filed? Once your case is filed, it will be assigned to a bankruptcy court trustee and the bankruptcy court will issue an “automatic stay”, which basically requires all lawsuits and collection proceedings against you to stop while your bankruptcy petition...
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