What happens in a Chapter 7 bankruptcy case?

Chapter 7 bankruptcy cases are usually straightforward. On rare occasions, complications arise if creditors take aggressive action, if the trustee thinks you are hiding assets, or if you want to challenge creditors’ claims. Who can file? Any individual who lives in the United States or has property or a business in the United States can file a chapter 7 bankruptcy. If you received a chapter 7 bankruptcy discharge within the past eight years, you are disqualified from receiving a discharge in chapter 7. A similar disqualification may also apply if you received a discharge within the past six years in 

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BANKRUPTCY GLOSSARY

Bankruptcy terms are often very confusing. It is like learning a foreign language. Here are brief definitions of many terms used in this site and in the Bankruptcy Code. It is our hope this glossary will help you to better understand the bankruptcy process. Adversary proceeding: A lawsuit filed in the bankruptcy court that is related to the debtor’s bankruptcy case. Examples are complaints to determine the dischargeability of a debt and complaints to determine the extent and validity of liens. Automatic stay: The injunction issued automatically upon the filing of a bankruptcy case that prohibits collection actions against the 

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