Roths Child Law

JULY 12, 2023

What is liquidation bankruptcy? Liquidation bankruptcy is another name for Chapter 7 bankruptcy. What this means is that people who file for Chapter 7 bankruptcy may have their assets liquidated to appease creditors. However, only non-exempt assets are liquidated and this process rarely happens.

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Debt Free Colorado

DECEMBER 23, 2024

Student loans, child support, recent taxes, and court fines must be paid in full. This type of bankruptcy often eliminates credit card debt, medical bills, and personal loans. Once the court approves your case, if you’re eligible by means test, you get a fresh start with some asset liquidation.

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Sawin & Shea

SEPTEMBER 27, 2023

Known as exempt assets, these are the things you may keep when you file for Chapter 7 bankruptcy. The goal is to not leave you completely destitute after filing for bankruptcy. These exemptions help ensure you have someplace to live, transportation to get to and from work, and other essentials.

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