2020

About Me
bankruptcy and the recovery after

Credit issues can arise more quickly than you might ever think. Within two years, my credit went from outstanding to outrageous and it all happened quickly. One day, I went into work like I normally did to find out that the plant was closing down and that many of the employees were let go immediately. I had no way to pay the bills that I owed each month. My only option after months of searching for work was to file for bankruptcy. This blog will tell you about the bankruptcy process and how to recover after it is all said and done.

What Does Liquidating Assets in Chapter 7 Bankruptcy Entail?

30 June 2020
 Categories: , Blog

When someone petitions for relief under Chapter 7 bankruptcy law, the process leads to what is commonly referred to as liquidation. This is the conversion of assets into cash. If you're pursuing a Chapter 7 filing, it's a good idea to understand what liquidating assets will entail. Appointment of a Trustee Assuming your petition for bankruptcy is granted, the judge will appoint a trustee. This person is typically an attorney with a background in bankruptcy, an accountant, or an auditor. Read More …