Overview of Debts in Chapter 7
Overview of Debts in Chapter 7
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Priority vs. Nonpriority Debts in Bankruptcy
Whether an unsecured debt is a priority debt or a nonpriority debt will affect how that claim is treated in bankruptcy.
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Understanding Secured, Unsecured, and Priority Debts in Bankruptcy
You'll indicate whether your debt is secured, unsecured, or priority in the official bankruptcy paperwork you file with the court. The type of debt determines how or whether a creditor will get paid. So a creditor must also identify whether the debt is secured, unsecured, or priority in the proof of claim submitted for payment.
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Chapter 7 Bankruptcy for a Small Business
Chapter 7 bankruptcy is often a good way for a struggling small business to wind down operations and satisfy creditors. Small business owners can also file a personal Chapter 7 bankruptcy after the company closes to get out from under business debt.
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What Happens to Debts Incurred After Filing for Chapter 7 Bankruptcy?
Debts you incur after you file for Chapter 7 bankruptcy (post-petition debts) are not discharged.
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Redeeming v. Reaffirming Debt to Keep Property in Bankruptcy
Learn the differences between redeeming property and reaffirming debt in Chapter 7 bankruptcy.
Secured Debt in Chapter 7 Bankruptcy
Secured Debt in Chapter 7 Bankruptcy
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Redeeming v. Reaffirming Debt to Keep Property in Bankruptcy
Learn the differences between redeeming property and reaffirming debt in Chapter 7 bankruptcy.
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Keeping Property in Chapter 7 by Reaffirming Secured Debt
If property is secured by debt, you can keep it by reaffirming the debt in Chapter 7.
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Surrendering Secured Property in Chapter 7 Bankruptcy
You can return property to the lender and discharge the secured debt in Chapter 7 bankruptcy.
Common Debts in Chapter 7 Bankruptcy
Common Debts in Chapter 7 Bankruptcy
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Getting Rid of Credit Card Debt With Bankruptcy
With a few exceptions, your credit card debt will be discharged in bankruptcy. Find out what happens to credit card debt in Chapters 7 and 13 and when the creditor might ask the bankruptcy court to declare your credit card balance nondischargeable.
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Medical Bankruptcies: How to Get Rid of Medical Debt
Learn how to wipe out medical debt in bankruptcy.
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Can You Discharge an SBA Business Loan in Bankruptcy?
You can discharge most SBA business loans in bankruptcy.
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Are Lawsuit Judgments Discharged by Bankruptcy?
Filing for bankruptcy relief will discharge most of your debts including lawsuit judgments. But there are exceptions.
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What Happens to a Personal Guarantee in Bankruptcy?
Learn how to discharge a personal guarantee in bankruptcy.
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How Will Bankruptcy Affect My Child Support Obligations?
You cannot discharge child support debt in Chapter 7 or Chapter 13 bankruptcy.
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Income Tax Debt in Chapter 7 Bankruptcy
Most tax debts won't be wiped out by Chapter 7 bankruptcy, but some older tax obligations might.
Other Debt Issues in Chapter 7
Other Debt Issues in Chapter 7
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How Will Bankruptcy Affect Joint Accounts and Cosigners?
If you file for bankruptcy, your cosigners will usually still be liable for joint debts.
