Main Office: 4245 Union Road Suite 208, Cheektowaga, NY 14225     •     Satellite Office: 534 Delaware Ave., Buffalo, NY 14202
Our Entire Firm Concentrates on Bankruptcy & IRS Solutions For Individuals & Small Businesses

Chapter 7

A Chapter 7 case is sometimes referred to as a “liquidation case” or as “straight bankruptcy.” The purpose of a Chapter 7 case is to:

1. Provide you with a fresh start by having some or all of your debts discharged (i.e. forgiven)
2. Provide a money distribution to your creditors on their claims

As you will see, in many cases creditors are provided with no distribution of money at all in a Chapter 7 case because of the financial situation of the individual filing for bankruptcy relief.

 

Chapter 7
Chapter 13
Examples: Chapter 7 & Chapter 13
Automatic Stay
Trustees, 341 Meeting, Confirmation Hearing
Your Property
Miscellaneous

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