The Basics: The Simple Chapter 7 Case

Wasson and ThornhillChapter 7

A simple Chapter 7 case protects you from all collections, discharges all your debts, lets you keep or surrender your collateral, and keep all your other assets.

Chapter 7 Complications

Wasson and ThornhillChapter 7

What if your income is too high, all your assets aren’t protected, you’re not current on your secured debts, and you can’t write off all your debts?

The Trustee in Chapter 7

Wasson and ThornhillBankruptcy Procedure

In bankruptcy you hear a lot about “the trustee.” What does this person do, in a “straight” Chapter 7 case, and in an “adjustment of debts” Chapter 13 one?