What persons should not file under Chapter 7?
A person who is not eligible for a chapter 7 discharge should not file under chapter 7. Also, a person who has substantial debts that are not dischargeable under chapter 7 should not file under chapter 7. In addition, it may not be wise for a person with current...What happens to the property that the debtor turns over to the trustee?
It is usually converted to cash, which is used to pay the fees and expenses of the trustee and to pay the claims of unsecured creditors. The trustee’s fee is usually $45 plus a percentage of the amount collected from the debtor.What persons are eligible to file under chapter 7?
Any person who resides in, does business in, or has property in the United States may file under chapter 7, except a person who has been involved in another bankruptcy case that was dismissed within the last 180 days on certain grounds.What are the debtor’s responsibilities to the trustee?
The law requires the debtor to cooperate with the trustee in the administration of a chapter 7 case, including the collection by the trustee of the debtor’s nonexempt property. If the debtor does not cooperate with the trustee, the chapter 7 case may be...What persons are not eligible for a chapter 7 discharge?
The following persons are not eligible for a chapter 7 discharge: (1) A person who has been granted a discharge in a chapter 7 case filed within the last eight years. (2) A person who has been granted a discharge in a chapter 13 case filed within the last eight years,...
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