Asked in Bankruptcy for Kentucky

Q: what is chapter 7

Related Topics:
1 Lawyer Answer
Justin Lee Lawrence
Justin Lee Lawrence
  • Bankruptcy Lawyer
  • Fort Mitchell, KY
  • Licensed in Kentucky

A: That's a really broad question and I could talk your ear off for an hour giving you the answer.

Basically, a Chapter 7 is a bankruptcy where you discharge all your unsecured debt but do not get rid of secured or priority debt. It is possible to lose property in a Chapter 7 if the property cannot be exempted. You cannot have filed a bankruptcy within the last eight years if you want to file a Chapter 7. Also, your household income must be below a threshold set by the number of people in your household and the state in which you live. Chapter 7s take about six months from filing to discharge.

Here is a link to more information: Best of luck!

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.