How Chapter 7 Bankruptcy Works
An Overview of Chapter 7 Bankruptcy

How Chapter 7 Bankruptcy Works

How Chapter 7 bankruptcy can help you cancel your debts, protect your exempt property, and stop bill collectors.
ADVERTISEMENT -
Updated: 2020-07-16
Do I have Options in My State Other Than Filing for Bankruptcy?
 
How Chapter 13 Bankruptcy Works in State

Chapter 7 bankruptcy can cancel most of your debts. Legally, this is called having your debts "discharged."

To get this discharge, you must surrender all property that isn't protected ("exempt") under bankruptcy law. Your property will be sold by the bankruptcy trustee to pay your creditors as much as possible.

Choose your state from the list on this page to get local details on the following topics:

  • Debts You Can Discharge
  • Debts You Can’t Discharge
  • Stopping Debt Collectors
  • Protecting Exempt Property
  • Figuring Out if You’re Eligible
  • How to File for Bankruptcy

Jurisdictional relevance: There are versions of this article for each State.
Select Your State:

You may also be interested in:

Automatically apply your county expense standards and state income standards to your means test calculation.

Find where to file where you live

Automatically apply your county expense standards and state income standards to your means test calculation.

ADVERTISEMENT -