Debt Discharge and Property

A typical Chapter 7 bankruptcy may involve the liquidation, or selling off, of a debtor's assets in order to pay past debts. Only after this process is completed, will a debtor near their goal of having their qualifying debts "discharged", or cleared. However, some property is protected from liquidation. In this section, you can learn more about the types of property that are excluded from the liquidation property, and the types that must be included as part of a bankruptcy. In addition, learn more about the Chapter 7 discharge process and what kinds of debt are included (and excluded) from this type of ruling. Please select from the links below to get started.

Learn About Debt Discharge and Property