CHAPTER 7 BANKRUPTCY (often referred to as "liquidation bankruptcy") is commonly used by individuals who simply want to walk away from their debts, or by businesses that want to cease their operations and liquidate their assets.

New Chapter 7 Law Requirements

Now to fill a Chapter SEVEN Bankruptcy you must measure your current monthly income (average income over the last six months before you file) against the median income for a family of your size in your state.

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DISCLAIMER: The law will vary depending on your state, jurisdiction and the specifics of your case. The information provided by is intended for educational purposes only. The content on this site should NOT be considered professional legal advice or a substitute for professional legal advice. For such services, we recommend getting a free initial consultation by a licensed Attorney in your state.

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