Chapter 7 bankruptcy is what many think of as wiping the slate clean and getting a fresh start. This type of bankruptcy is a liquidation bankruptcy designed to erase general unsecured debts such as credit cards and medical bills. In order to qualify for Chapter 7, you must have little or no disposable income. When you file, a trustee is appointed to administer your case to review your bankruptcy papers, supporting documents, and to arrange the sell of your nonexempt property to pay back your … [Read more...]