Bankruptcy Questions

Chapter 7 Bankruptcy Issues

• Who can file?
• Trustee
• Discharge

1. Who can file for Chapter 7 Bankruptcy?: Anyone who cannot pay their debts can file for Chapter 7 Bankruptcy.
    
2. Trustee: The trustee in a Chapter 7 Bankruptcy simply insures that you can prove that you are the debtor and is the one who takes over any unexempt property that appears to have value and which can be distributed to Creditors.
    
3. Discharge: If there is no objection by a creditor (which is usually the case) then a Debtor's debts will be discharged approximately 3 ½ months after filing the petition.

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