Chapter 7 Bankruptcy Facts

Chapter 7 Bankruptcy Facts A Chapter 7 bankruptcy typically takes around six months to complete. A Chapter 7 bankruptcy stays on your credit report for 10 YEARS after it is arranged. A Chapter 7 bankruptcy allows you to liquidate bills rather than arrange a repayment plan. During a Chapter 7 bankruptcy, you may be able to keep some personal items and possibly real estate depending on the laws in the state where you live. A chapter 7 case begins with the debtor filing a petition with the bankruptcy court serving the area where the individual lives or where the business debtor is organized or has its principal place of business or principal assets. BROUGHT TO YOU BY Law Office of Charles H. Huber Attorney At Law