Chapter 7 Consumer Bankruptcy Strategies provides an authoritative, insider's perspective on helping clients seek relief under Chapter 7. To many, the filing of a Chapter 7 bankruptcy represents a black mark on a debtor's personal scorecard. Our authors present a different view: individuals must understand that a Chapter 7 bankruptcy filing is a financial tool that guides individuals toward efficient personal financial management that generates long-term benefit to themselves and the community. In the book's chapters, these leaders:
- Explain the public's misconception that a Chapter 7 debtor will lose everything – including their house and car – if they file bankruptcy; many debtors don't realize they can retain these assets even after filing
- Guide the consumer debtor through the Chapter 7 filing process and discuss effective strategies and best practices for an efficient discharge of as much debt as possible
- Describe the differences between Chapter 7 and Chapter 13 consumer bankruptcy filings, focusing on the eligibility criteria for both
This edition has been updated to reflect the latest thinking in Chapter 7 consumer bankruptcy, including strategies that offer individuals a way out, a way to get ahead of their indebtedness, and a plan for taking back control of their lives and their futures.