Tax Help : What Happens When You File Chapter 7 Bankruptcy?
Chapter 7 bankruptcy is the most common form of bankruptcy that is filed for in the U.S., and its primary purpose is to give individual debtors a fresh start by discharging debts. Discover how individuals get to choose to keep certain exempt property under Chapter 7 with information from an independent CPA in this free video on Chapter 7 bankruptcy.
Expert: Miranda Chook
Bio: Miranda Chook is a CPA with expertise in international operations.
Filmmaker: Bing Hu
Duration : 0:2:47
After a year or so … After a year or so you will be able to get a car without a problem. Maybe slightly higher APR.
What happens after … What happens after you get Chapter 7 and apply for credit IE for a car loan ?
Yes it can wipe out … Yes it can wipe out cc debt. You do have to take a 'means' test and complete 2 separate credit counseling courses, but it will wipe out cc debt.
So ch 7 BK can … So ch 7 BK can discharge credit card debt? I thought that changed in 2005?