Posts Tagged ‘unsecured’
What is a Chapter 7 bankruptcy?
The United States Bankruptcy Code offers several different bankruptcies. Two of those bankruptcies are available to consumers, chapter 7 and chapter 13. Chapter 7 bankruptcy, which is often called straight bankruptcy, is where the debtor goes to the court and requests that his/her unsecured debts be discharged. In a Chapter 7 Bankruptcy the debtor is going to be responsible for paying for his own car and any other secured items for which they would like to keep. But they are asking that their unsecured liabilities be discharged by the court. Chapter 7 bankruptcy typically takes from start to finish, about 180 days. And then the court grants a discharge to the debtor. Typically lower income or very fixed income people qualify for Chapter 7 bankruptcy.
Duration : 0:0:46
Grand Rapids Bankruptcy Attorney Chapter 11 Lawyer Michigan
http://www.howardlawgr.com Bankruptcy can give you a second chance. The attorneys at Howard PC in Grand Rapids, Michigan, handle cases involving Chapter 11, 7 and 13. Contact the firm today at (866) 719-9593
Duration : 0:1:16
