Chapter 7 Bankruptcy is what most people are thinking about when they think of Bankruptcy. Generally speaking it is a relatively short legal matter when compared to other Chapters in the Bankruptcy Code.

For a majority of people filing Chapter 7, the process can be straight forward. Fill out the petition and meet all the requirements under the Code. File your petition with the Court. Attend the Meeting of Creditors and complete a couple other requirements and you can be awarded a discharge of your debts.

Many people are able to file Chapter 7 and keep their home. Many people are able to file Chapter 7 and keep their car.

Most of the time, the Chapter 7 process will be smooth enough and people will get the fresh start they need.

For others, however, Chapter 7 can turn into a nightmare. These cases that go bad are almost always a surprise to the people involved. Whether it is an asset that was undisclosed, or mischaracterized, or mis-valued, all of a sudden, a Chapter 7 Debtor can find themselves in a very difficult position with the Trustee.

Certain elements can make a Chapter 7 case more difficult. Homes, Cars, Taxes, Annuities and Businesses are just a few of the issues that make it very important to speak with an attorney before filing a Chapter 7 Petition. Failure to plan for and prepare to handle these issues in your Chapter 7 could cost you thousands of dollars.

When a Chapter 7 case goes bad, it tends to go really bad. It is important to have an attorney you trust to help you prepare a Bankruptcy petition that is accurate and complete to ensure as best as possible that your case goes as smoothly as possible.

Volumes have been written on this legal matter so any attempt here will just be to scratch the surface. Other articles are published here that delve into the specifics about Chapter 7 bankruptcy.Type your paragraph here.

Chapter 7 is often insufficient for people in trouble with their first or second mortgage. Tax debts to the Internal Revenue Service, the Franchise Tax Board or even the State Board of Equalization may not be discharged in a Chapter 7. Chapter 13 offers a chance for a comprehensive solution to your financial problems.

Chapter 13 offers you a chance to stop any move to foreclose on your home by your first or second mortgage. It gives you the time to create a plan that will get you current on your home. Rental prices here in the Bay Area are sky high right now, and losing your home can often lead to a financial catastrophe.

Chapter 13 also allows you to halt any action on the part of the Taxing Authorities. The taxing authorities can be some of the most frightening because they can levy your bank accounts and take everything at any moment. A Chapter 13 stops them from collection actions and gives you time to figure a way to pay them off.

Chapter 13 also allows you, potentially, to basically refinance your auto loan. This can involve lower monthly payments for your car as well as lower the interest rate you are paying. This can be incredibly important to people who are struggling with debt to rearrange their liabilities, lower their payments and create a plan that will level the playing field for you.Type your paragraph here.


Chapter 13 is an amazing tool for people experiencing financial difficulty. It provides a person with a chance to deal with their financial problems in a comprehensive manner. For many people, a Chapter 7 is only going to solve part of the problem.

Chapter 7 is excellent for eliminating unsecured debts like credit cards, medical bills and utility bills. Chapter 7 is not generally a useful tool for people who have other sorts of debts.

Chapter 7 can be an insufficient choice for those people having trouble paying for their car.Type your paragraph here.

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