In a Chapter 7 bankruptcy, creditors can seize certain assets to repay the debts you owe. However, exceptions allow debtors to retain some of their assets (or at least part of the asset’s value).

Chapter 7 bankruptcy is a legal process designed to help people who genuinely cannot pay their debts. It’s often called “liquidation bankruptcy” because it can involve selling some property to pay ...

When filing for bankruptcy, it is best to over-disclose to avoid the risk of unintentionally hiding assets. Assets that require disclosure fall into three main categories: personal property, real ...