Priority Debts in a No-Asset Case

Wasson and ThornhillEffects of Bankruptcy

In a Chapter 7 no-asset bankruptcy case, the trustee collects nothing from you and pays nothing on your debts, including your priority ones.   Most Chapter 7 Cases Are No-Asset Cases Chapter 7—“straight bankruptcy”—is the most common type of consumer bankruptcy case. They are generally the most straightforward, lasting about 4 months start to finish. Usually everything you own is … Read More

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.