Chapter 7 Bankruptcy

By: Mack & Associates, LLC  08/28/2014

Chapter 7 Bankruptcy, also known as "straight bankruptcy" is the simplest and cheapest form of bankruptcy. In it, you surrender non-exempt assets, your creditors are paid out of the bankruptcy estate, and your debts are disharged, allowing you to get a fresh start.

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Chapter 13 Bankruptcy

Chapter 13 bankruptcy is the form of bankruptcy in which you repay a portion of your debts. Unlike chapter 7,