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Posted On: July 22, 2010 by Scott Sagaria

Chapter 7 FAQ

A San Francisco bankruptcy lawyer provides a Chapter 7 FAQ

What is chapter 7?
Chapter 7 bankruptcy is known as the liquidation chapter, meaning that all of your personal property that you cannot exempt from the bankruptcy is liquidated in order to repay creditors. Generally those filing for chapter 7 can exempt all of their personal property, leaving nothing to be repaid to creditors.

Can I keep my house or car in chapter 7?
Yes. It is possible to keep your house or car when you file under chapter 7, so long as you are current on the payments (or your car is not worth more than the exemption limit if you own it outright).

Can I choose which credit cards to keep and which debts to have discharged?
In a chapter 7 bankruptcy you cannot choose which debts you wish to have discharged. All of your credit cards and other unsecured debt will be listed in the bankruptcy, and if the debt is eligible for discharge, it will be.

Can chapter 7 discharge student loans?
Generally Student loans are very difficult to have discharged. Most debtors who file chapter 7 do not have their student loans discharged, however speaking to an experienced bankruptcy attorney is imperative when dealing with discharges of this nature.

If you have questions regarding bankruptcy in San Francisco or bankruptcy in the greater Bay Area please contact our San Francisco Bankruptcy Attorneys at (415) 946-8882 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Francisco Bankruptcy Attorneys. After you have spoken with one of our Bay Area bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Bankruptcy Lawyers, Bankruptcy Customer Care Specialists and Bankuptcy staff supporting San Francisco and Bay Area consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Francisco Bay Area!

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Posted In: Chapter 7 Bankruptcy

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There may be reasons beyond our control that may cause a case to be dismissed. Therefore, the 100% Money-Back Guarantee does not guarantee;

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