A Simple Chapter 7 Asset Case

Wasson and ThornhillChapter 7

Chapter 7 “asset” cases may sound scary. They needn’t be. We walk you through a very straightforward example to demystify this.

An Asset Chapter 7 Case

Wasson and ThornhillChapter 7

Most Chapter 7 cases are “no-asset” ones. So, what’s an “asset case,” and is it good or bad for you?

Your No-Asset Chapter 7 Case

Wasson and ThornhillChapter 7

Most individual consumer Chapter 7 cases are “no asset” ones. This means that the Chapter 7 trustee doesn’t liquidate any debtor assets.