Getting ready to file Chap 7 in CA and have a few questions
Date: Wed, 04/15/2009 - 07:38
As per the recent bankruptcy law, before you file bankruptcy, yo
As per the recent bankruptcy law, before you file bankruptcy, you need to undergo a 180 days credit counseling program which will decide whether you will qualify for Chapter 7 or Chapter 13. If you have sufficient income to pay off the debt within a 3 to 4 year period, then you need to file bankruptcy under Chapter 13. However, if you qualify for Chapter 7 and have certain non-exempt assets, the court may sell it to repay at least a portion of the debt.