Form Chapter 7 Without A Lawyer
Description
How to fill out List Of Creditors Holding 20 Largest Secured Claims - Not Needed For Chapter 7 Or 13 - Form 4 - Post 2005?
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FAQ
With a no-asset chapter 7 bankruptcy, the debtor will not lose any of their property. A ?no-asset? Chapter 7 bankruptcy means you do not have assets that the bankruptcy trustee can sell to pay your creditors.
Debt Discharge When you file for bankruptcy, your creditors can no longer demand payment from you. The court discharges your debt. This removes your liability for repayment. Of course, you're still free to repay your debts.
While it may feel odd to pay fees to tell the courts you don't have enough money, you typically have to pay court fees to file for bankruptcy. The filing fee for a Chapter 7 bankruptcy is $338, while the filing fee for a Chapter 13 bankruptcy is $313.
The person filing for bankruptcy is the one who pays for the bankruptcy, either the individual or the creditor in a forced bankruptcy.
A Chapter 7 bankruptcy wipes out mortgages, car loans, and other secured debts. But if you don't continue to pay as agreed, the lender will take back the home, car, or other collateralized property using the lender's lien rights.