What Happens When Filing for Chapter 7 Bankruptcy?

Cesar Montalvo Bankruptcy

When filing for Chapter 7 Bankruptcy protection, debtors can expect to have to turn over a sizeable portion of their property to a so-called bankruptcy estate. A bankruptcy trustee manages this bankruptcy estate, selling property to raise money to pay off a debtor’s creditors. To begin the Chapter 7 Bankruptcy process, you will need to pass a Means Test, file …