Chapter 7 Bankruptcy (2025)

Introduction to Chapter 7 Bankruptcy

Introduction to Chapter 7 Bankruptcy

• A Chapter 7 Bankruptcy Overview

  Chapter 7 bankruptcy eliminates debts without requiring filers to repay creditors. It's the quickest bankruptcy chapter, usually taking four months to complete. Chapter 7 is also the cheapest bankruptcy chapter to file, making it the preferred choice of bankruptcy filers. Learn how Chapter 7 bankruptcy works, how to qualify by passing the Chapter 7 means test, and what will disqualify you from filing Chapter 7. You’ll also learn about the debts eliminated in bankruptcy, Chapter 7 exemptions that will protect your property, and the steps in a Chapter 7 case.

• The Chapter 7 Bankruptcy Process and Discharge Timeline

  Learn about the typical steps in a Chapter 7 bankruptcy.

• Filing a Chapter 7 Bankruptcy: Basic Steps

  When filing for Chapter 7 bankruptcy, your case should move forward predictably. Here's a summary of what's involved in a typical Chapter 7 bankruptcy.

• Chapter 7 Bankruptcy FAQ

  Get Chapter 7 bankruptcy questions answered in the Chapter 7 FAQ format. Bankruptcy matters addressed include qualifying for Chapter 7 bankruptcy, what happens to unsecured loans and unsecured debt in bankruptcy, and property in Chapter 7, including keeping a home.

• What Is a Chapter 7 No-Asset Bankruptcy Case?

  The majority of Chapter 7 bankruptcies are no-asset cases. Find out what a no-asset case is, whether you can file for Chapter 7 without assets, and what happens in Chapter 7 no-asset cases.

• Average Attorney Fees in Chapter 7 Bankruptcy

  Find out how much lawyers charge for Chapter 7 bankruptcy and learn how to find a competent Chapter 7 bankruptcy lawyer you can afford.

• What Debts Must I Continue to Pay During My Chapter 7 Bankruptcy?

  When you file for Chapter 7 bankruptcy, you begin the process of obtaining a fresh financial start. That means you do not have to pay debts that are dischargeable in your bankruptcy, and should stop paying those debts once you have filed.

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Is Chapter 7 Bankruptcy Right for You?

Is Chapter 7 Bankruptcy Right for You?

• Is It Better To File A Chapter 7 or 13 Bankruptcy?

  There are several reasons why Chapter 7 bankruptcy can be more advantageous to certain debtors than Chapter 13 bankruptcy.

• Is Chapter 7 Bankruptcy the Right Choice for You?

  Before you file for Chapter 7 bankruptcy, decide if it makes financial sense.

• Chapter 7 Bankruptcy: What Will It Cost and Will It Wipe Out My Debts?

  We asked readers across the U.S. about their recent experiences with Chapter 7 bankruptcy. Here’s an overview of what they told us.

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Getting Rid of Debts in Chapter 7

Getting Rid of Debts in Chapter 7

• Nondischargeable Debts in Chapter 7 Bankruptcy

  Learn about the types of debt that cannot be wiped out in bankruptcy.

• Which Debts Can You Discharge in Chapter 7 Bankruptcy?

  Chapter 7 bankruptcy clears debt like credit card balances, medical bills, past-due rent payments, payday loans, overdue cellphone and utility bills, car loan balances, and even home mortgages in as little as four months. Learn more about the debts that are "discharged" or eliminated when filing for Chapter 7 bankruptcy protection.

• Does Chapter 7 Bankruptcy Fall Off a Credit Report?

  Learn how long Chapter 7 bankruptcy (and Chapter 13 bankruptcy) will stay on your credit report.

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The Bankruptcy Means Test

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• The Bankruptcy Means Test: Are You Eligible for Chapter 7 Bankruptcy?

  Find out if you're eligible for Chapter 7 bankruptcy by learning about the Chapter 7 bankruptcy means test. We explain the calculation process you'll use to determine whether you'll qualify for Chapter 7 bankruptcy.

• Common Mistakes Made on the Bankruptcy Means Test

  The means test helps you determines if you are eligible for Chapter 7 bankruptcy and the length of your plan in Chapter 13 bankruptcy. The lengthy form can be complicated to fill out. Find out some of the most common mistakes made when completing it, as well as if you have to fill it out at all.

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Your Debt in Chapter 7 Bankruptcy

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• What Is a Secured Debt?

  Learn about secured debts and how creditors can collect them.

• Credit Card Debt in Chapter 7 Bankruptcy

  In Chapter 7 bankruptcy, debtors can "discharge" or eliminate most credit card debts. In Chapter 7, debtors don't pay toward the amount owed and, in most cases, aren't required to return the property purchased with the credit card.

• Student Loan Debt in Bankruptcy

  Yes, you can file for bankruptcy on student loans, and it's getting easier to "discharge" or erase student loans in bankruptcy. But debtors can’t wipe out student loan debt in Chapter 7 or Chapter 13 bankruptcy without filing a separate litigation matter. You must prove to a bankruptcy judge that repaying your student loans would cause you undue hardship. If successful, you can get rid of your student loans in bankruptcy.

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Your Property in Chapter 7 Bankruptcy

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• Your Retirement Plan in Bankruptcy

  If you file for Chapter 7 bankruptcy or Chapter 13 bankruptcy, you get to keep your pension and retirement plan funds, with a few limitations. If you are considering bankruptcy, you should learn about these limits.

• Can I keep a checking account if I file Chapter 7 bankruptcy?

  You can probably keep your checking account in Chapter 7 bankruptcy if you don't owe money to the bank. However, it's a lot more difficult to keep the funds in the checking account when filing for bankruptcy. Learn why you'll lose your money in bankruptcy if you can't protect it with a bankruptcy exemption.

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Your Home in Chapter 7 Bankruptcy

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• Your Home in Chapter 7 Bankruptcy

  Whether Chapter 7 bankruptcy makes sense when you own a home depends on your goals -- do you want to save your house, delay foreclosure, or just walk away with less debt?

• Should I File for Chapter 7 or Chapter 13 If I Want to Keep My Home?

  Can you file for bankruptcy and keep your house? This article explains how to file for bankruptcy and keep your house in Chapter 7 or Chapter 13 bankruptcy. You'll learn about protecting home equity in Chapters 7 and 13, keeping a house in Chapter 7, and catching up on past-due payments in Chapter 13. You'll also learn when you can remove liens and lower mortgage payments in Chapter 13 bankruptcy.

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Bankruptcy & Foreclosure

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• Can My Mortgage Lender Refuse to Send Monthly Statements After Bankruptcy?

  Here's what to do if your mortgage servicer won't send mortgage statements after your bankruptcy.

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Eligibility for Chapter 7 Bankruptcy

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• Chapter 7 Bankruptcy—Who Can't File?

  If you're seeking debt relief, you'll start by determining whether you qualify for Chapter 7 bankruptcy. You must meet several Chapter 7 bankruptcy requirements, such as meeting income qualifications, before you can wipe out debts in Chapter 7 bankruptcy. You'll also need to learn what disqualifies you from filing Chapter 7.

• Can an Undocumented Immigrant File for Bankruptcy?

  If you are an undocumented immigrant, you can file for bankruptcy if you have a valid Social Security Number or ITIN.

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