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  • February 10, 2008 at 6:58 PM #11780
    gracie
    Participant

    A family we know moved to a lovely, expensive new home last year…..now we hear they are filing chapter 7 bankruptcy. I am not familiar with what that is?

    February 10, 2008 at 7:04 PM #151155
    JerseyGrl
    Participant

    Toots

    google it: http://www.uscourts.gov/bankruptcycourts/bankruptcybasics/chapter7.html#work

    February 10, 2008 at 7:04 PM #151417
    JerseyGrl
    Participant

    Toots

    google it: http://www.uscourts.gov/bankruptcycourts/bankruptcybasics/chapter7.html#work

    February 10, 2008 at 7:04 PM #151425
    JerseyGrl
    Participant

    Toots

    google it: http://www.uscourts.gov/bankruptcycourts/bankruptcybasics/chapter7.html#work

    February 10, 2008 at 7:04 PM #151442
    JerseyGrl
    Participant

    Toots

    google it: http://www.uscourts.gov/bankruptcycourts/bankruptcybasics/chapter7.html#work

    February 10, 2008 at 7:04 PM #151515
    JerseyGrl
    Participant

    Toots

    google it: http://www.uscourts.gov/bankruptcycourts/bankruptcybasics/chapter7.html#work

    February 10, 2008 at 10:13 PM #151290
    lindymadill
    Participant

    It means they are facing financial hardship. They are filing to try and wipe out some of their debts. Filing bankruptcy also begins the automatic “stay”. This means creditors have to leave them alone for a specified period of time. It is now difficult to qualify for chapter 7. They may be able to keep their home and car if they continue to make payments on them.

    February 10, 2008 at 10:13 PM #151552
    lindymadill
    Participant

    It means they are facing financial hardship. They are filing to try and wipe out some of their debts. Filing bankruptcy also begins the automatic “stay”. This means creditors have to leave them alone for a specified period of time. It is now difficult to qualify for chapter 7. They may be able to keep their home and car if they continue to make payments on them.

    February 10, 2008 at 10:13 PM #151560
    lindymadill
    Participant

    It means they are facing financial hardship. They are filing to try and wipe out some of their debts. Filing bankruptcy also begins the automatic “stay”. This means creditors have to leave them alone for a specified period of time. It is now difficult to qualify for chapter 7. They may be able to keep their home and car if they continue to make payments on them.

    February 10, 2008 at 10:13 PM #151576
    lindymadill
    Participant

    It means they are facing financial hardship. They are filing to try and wipe out some of their debts. Filing bankruptcy also begins the automatic “stay”. This means creditors have to leave them alone for a specified period of time. It is now difficult to qualify for chapter 7. They may be able to keep their home and car if they continue to make payments on them.

    February 10, 2008 at 10:13 PM #151650
    lindymadill
    Participant

    It means they are facing financial hardship. They are filing to try and wipe out some of their debts. Filing bankruptcy also begins the automatic “stay”. This means creditors have to leave them alone for a specified period of time. It is now difficult to qualify for chapter 7. They may be able to keep their home and car if they continue to make payments on them.

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