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What is a Chapter 7 Bankruptcy?
(816) 628-4900
Attorney at Law
Richard J. Herndon
Kansas City Northland Bankruptcy Lawyer
The Law Offices of Richard J. Herndon
455 Sam Barr Drive - Suite 207
P. O. Box 617
Kearney, Missouri 64060
816-628-4900
800-494-2218
Rick@MoBankruptcy.info
455 Sam Barr Drive - Suite 207
P. O. Box 617
Kearney, Missouri 64060
816-628-4900
800-494-2218
Rick@MoBankruptcy.info
Copyright © 2010 by Richard J. Herndon, Attorney at Law - all rights reserved
THE CHOICE OF A LAWYER IS AN IMPORTANT DECISION AND SHOULD NOT BE
BASED SOLELY UPON ADVERTISEMENTS
WE ARE A DEBT RELIEF AGENCY. WE HELP PEOPLE FILE FOR BANKRUPTCY RELIEF UNDER THE BANKRUPTCY CODE
WE ARE A DEBT RELIEF AGENCY. WE HELP PEOPLE FILE FOR BANKRUPTCY RELIEF UNDER THE BANKRUPTCY CODE
We serve clients from throughout the Kansas City, Missouri Metropolitan area. This includes Kearney,
Liberty, Excelsior Springs, Gladstone, Smithville, Platte City, Holt, Lathrop, Lawson, and Plattsburg, and
also St. Joseph, and within the counties of Clay, Platte, Clinton, Jackson, Ray and many others.
A chapter 7 bankruptcy case is a proceeding under federal law
in which the debtor seeks relief under chapter 7 of the
Bankruptcy Code. Chapter 7 is that part (or chapter) of the
Bankruptcy Code that deals with liquidation. The Bankruptcy
Code is a federal law that deals with bankruptcy. A person who
files a Chapter 7 case is called a debtor. In a Chapter 7 case,
the debtor must turn his or her nonexempt property, if any
exists, over to a trustee, who then converts the property to
cash and pays the debtor's creditors. In many cases no
property is lost. In return, the debtor receives a Chapter 7
discharge, if he or she pays the filing fee, is eligible for the
discharge, and obeys the orders and rules of the bankruptcy
court.
A Chapter 7 Discharge is a court order releasing a debtor from all of his or her dischargeable debts and ordering the creditors not to attempt to collect them from the debtor. A debt that is discharged is a debt that the debtor is released from and does not have to pay.
A Chapter 7 Discharge is a court order releasing a debtor from all of his or her dischargeable debts and ordering the creditors not to attempt to collect them from the debtor. A debt that is discharged is a debt that the debtor is released from and does not have to pay.
Most debts of any type or amount are dischargeable in a chapter 7 case.
Following is a list of the most common types of debts that are not dischargeable
in a chapter 7 case:
(1) Most tax debts and debts that were incurred to pay nondischargeable federal tax debts.
(2) Debts for obtaining money, property, services, or credit by means of false pretenses, fraud, or a false financial statement, if the creditor files a complaint in the bankruptcy case.
(3) Debts not listed on the debtor's chapter 7 forms, unless the creditor knew of the bankruptcy case in time to file a claim.
(4) Debts for fraud, embezzlement, or larceny, if the creditor files a complaint in the bankruptcy case.
(5) Debts for domestic support obligations, which include debts for alimony, maintenance, or support, and certain other divorce-related debts, including property settlement debts.
(6) Debts for intentional or malicious injury to the person or property of another, if the creditor files a complaint in the bankruptcy case.
(7) Debts for certain fines or penalties.
(8) Debts for most educational benefits and student loans, unless a court finds that not discharging the debt would impose an undue hardship on the debtor and his or her dependents.
(9) Debts for personal injury or death caused by the debtor's operation of a motor vehicle, vessel or aircraft while intoxicated.
(10) Debts that were or could have been listed in a previous bankruptcy case of the debtor in which the debtor did not receive a discharge.
(1) Most tax debts and debts that were incurred to pay nondischargeable federal tax debts.
(2) Debts for obtaining money, property, services, or credit by means of false pretenses, fraud, or a false financial statement, if the creditor files a complaint in the bankruptcy case.
(3) Debts not listed on the debtor's chapter 7 forms, unless the creditor knew of the bankruptcy case in time to file a claim.
(4) Debts for fraud, embezzlement, or larceny, if the creditor files a complaint in the bankruptcy case.
(5) Debts for domestic support obligations, which include debts for alimony, maintenance, or support, and certain other divorce-related debts, including property settlement debts.
(6) Debts for intentional or malicious injury to the person or property of another, if the creditor files a complaint in the bankruptcy case.
(7) Debts for certain fines or penalties.
(8) Debts for most educational benefits and student loans, unless a court finds that not discharging the debt would impose an undue hardship on the debtor and his or her dependents.
(9) Debts for personal injury or death caused by the debtor's operation of a motor vehicle, vessel or aircraft while intoxicated.
(10) Debts that were or could have been listed in a previous bankruptcy case of the debtor in which the debtor did not receive a discharge.