What Does It Mean To File For Bankruptcy?
Filing for bankruptcy is a legal process performed through the Federal Bankruptcy Courts. This process is designed to assist individuals and businesses eliminate all or a portion of the debt cause by many factors. The process reviews the individuals case to determine what portion they will owe.
What Is Chapter 7 Bankruptcy?
Chapter 7 Bankruptcy is known to most individuals as “straight bankruptcy” when they’ve considered filing. This type of bankruptcy requires the individual to allow a federal court trustee to supervise the sale of any assets that aren’t exempt to be credited towards the balance of what one owes after the bankruptcy is discharged.
Please go to our Bankruptcy Page to for in depth detail and fill out our 100% free bankruptcy qualification form to see if you qualify for chapter 7 bankruptcy.
Remember that the lawyers at the Law Offices of Sean S. Vahdat and Associates APLC are here to help! We will help you get out of debt and get a fresh start.
