Tag: filing for chapter 7 Archive
What Counts as an Asset to the Bankruptcy Court?
Some consumes fear filing for bankruptcy because of what they think the will have to give up. We all work hard for what we have. Even if what we have isn’t much, we still don’t want to have to give it up and start over. It makes bankruptcy seem like …
How Does Chapter 7 Affect an Irrevocable Trust to a Minor?
Individuals in financial trouble can file Chapter 7 bankruptcy in order to wipe their debt slate clean. It provides a fresh financial start. Filing for Chapter 7 means surrendering control of your assets. Assets are managed by the bankruptcy trustee assigned to your case and may be liquidated or sold …