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Debt Relief – Insolvency – Bankruptcy Information » Bankruptcy Help » What is a Chapter 7 Bankruptcy? – Provo Bankruptcy Lawyers

What is a Chapter 7 Bankruptcy? – Provo Bankruptcy Lawyers


Bankruptcy Lawyers Provo Utah. Visit www.ProvoUtahBankruptcyLawyers.com or call us at (801) 701-2030 for more information about filing bankruptcy in Provo, UT. In this video, Corey discusses what is a chapter 7 bankruptcy. For more bankruptcy help, visit www.provoutahbankruptcylawyers.com Provo Bankruptcy Questions and Answers What is a Chapter 7 bankruptcy? Now if you’re wondering what a Chapter 7 is, this is essentially one piece of the bankruptcy law that allows you to wipe out your debts entirely. Sometimes it’s referred to as a “fresh start” or “total bankruptcy”. But what you need to know — the most important aspect of a Chapter 7 — is that it gets rid of and entirely eliminates the legal responsibility that you have to pay a debt or all your debts as long as they’re allowable under that chapter of bankruptcy. Now we’re not going to get into what is and what isn’t allowable in this video, that’s for another video, but that is its function — it gets rid of the legal obligation that you have to pay a debt and makes it so that you get to start over, kind of just wipe the slate clean and begin again.

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