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Category: Chapter 7

Xceligent Files Chapter 7 Bankruptcy

January 12, 2018 | Posted in Chapter 7

One of the biggest commercial real-estate data firms in America, Xceligent, filed for liquidation this week. The decision to shut down the company comes after discussion with CoStar Group to settle litigation over alleged data theft. While companies that wish to remain in business and negotiate with creditors can file for Chapter 11 bankruptcy protection, […]

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Can I Keep a Second Home in Chapter 7 Bankruptcy?

July 28, 2017 | Posted in Chapter 7

This question emerged in a Chapter 7 bankruptcy proceeding in 2017 where a man owned a home which had two mortgages. After getting married and having three children, he incurred over $60,000 in student loan debt to obtain a master’s degree. Then once his mother-in-law needed to move into their home, the man and his […]

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Chapter 7 Means Test

May 18, 2017 | Posted in Chapter 7

According to a simple textbook definition, the Chapter 7 means test is a parameter to determine whether a family or an individual is sufficiently qualified for a financial assistance program or not. One of the commonest applications of the means test is in determining the qualification of an individual for filing a chapter 7 bankruptcy. […]

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Chapter 7 Eligibility Criteria

May 16, 2017 | Posted in Chapter 7

Until a few years back, the eligibility of an individual for filing a bankruptcy petition under chapter 7 was determined solely by the judge of the U.S. Bankruptcy Court. As a result, there were hundreds of filers who got their debt discharged under chapter 7, even when they were quite capable of repaying it through […]

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Chapter 7 Bankruptcy Affect On Credit Scores

March 14, 2017 | Posted in Chapter 7

One of the most common types of bankruptcy filed in the country is Chapter 7 Bankruptcy. This type is the process of liquidation as stipulated in the bankruptcy laws of the United States. Chapter 7 is helpful when you find yourself in a situation where you are unable to repay your debts. One thing to […]

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Chapter 7 Bankruptcy Preparation Questions

February 28, 2017 | Posted in Chapter 7

Being in debt and unable to make payments is stressful. Things like creditor harassment, lawsuits and damaged credit make it worse. When it comes time to seek debt relief through bankruptcy it is important to ask Chapter 7 bankruptcy preparation questions. Take the time to speak to a Fairfield OH bankruptcy lawyer about what to expect. Chapter […]

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How the Chapter 7 Means Test Works

December 13, 2016 | Posted in Chapter 7

One of the reasons a chapter 7 bankruptcy is one of the most sought after forms of bankruptcy is that it offers the quickest route to debt relief. Debts can often be resolved in a matter of months, giving you a fresh start. In order to your debts discharged through chapter 7, you must pass […]

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What is a liquidation bankruptcy?

November 3, 2016 | Posted in Chapter 7

Liquidation bankruptcy is one of several names for Chapter 7 bankruptcy in the United States. Chapter 7 bankruptcy is also sometimes referred to as straight or ordinary bankruptcy since it is the most commonly used type of bankruptcy in America. As the name implies, Chapter 7 bankruptcy involves the gathering and selling of the debtor’s […]

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A Chapter 7 No Assets Bankruptcy

August 18, 2015 | Posted in Chapter 7

Going bankrupt is not easy at least in the beginning. It usually takes some time before a person comes to the decision to take advantage of this type of debt relief. At this point most are being hounded by their creditors and are under a great deal of stress. Then once the decision is made […]

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Eliminating Debts In Chapter 7

June 2, 2015 | Posted in Chapter 7

Those that are entering into a chapter 7 bankruptcy do so with the hopes of having all of their debts discharged. Their financial situation has gotten serious and they no longer can make payments or keep up with their financial obligations. They are hoping for a bankruptcy discharge. What a discharge does is makes it […]

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