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The Pros and Cons of Filing for Chapter 7 Bankruptcy

One of the more complex aspects of bankruptcy is choosing between Chapter 7 and Chapter 13. For a little background about deciding whether Chapter 7 might be the right choice for you, take a look at this video.

In a Chapter 7 bankruptcy, you turn over your nonexempt assets to a trustee, who sells them and divides the proceeds among your creditors. Hence, if you have a lot of assets that you would like to keep, this might not be the right type of bankruptcy for you.

http://www.youtube.com/v/7w5_5L4C6eo?hl=en&fs=1

For advice and guidance regarding the bankruptcy process, call Cutler & Associates in Schaumburg. Our attorneys can help you decide which type of bankruptcy is right for you. To schedule your free initial consultation, call (847) 849-1834.

More from Cutler & Associates, Ltd.: Cutler & Associates, Bankruptcy Schaumburg, bankruptcy attorneys schaumburg

Categories: Bankruptcy Blog

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