In a nutshell you file a Chapter 7 case by submitting a petition in which you disclose all your assets, debts, income and expenses to the court. The documents are reviewed by a series of Trustee’s and at the end of the proceeding, the bankruptcy court issues an order of discharge, and you are no longer liable for applicable debts.
Tag: Bankruptcy Process
The Bankruptcy Guy
In today’s mail came the official Trademark for “The Bankruptcy Guy“. For years my friends have called me “the bankruptcy guy” and last year I started looking into the process of obtaining the official trademark to the name. In the end it took nearly a year and hours of legal work to obtain the mark. … Continue reading The Bankruptcy Guy
Why bankruptcy law
You may ask yourself about the purpose of bankruptcy law and why there is such thing as a bankruptcy process. Could it give people an incentive to not pay their debts back or to accumulate large amounts of debt only to have it discharged by a bankruptcy? I guess some people think this way but… Continue reading Why bankruptcy law