chapter 7 bankruptcy requirements

Can you file Chapter 7 bankruptcy, you have to liquidate if no assets to?

I've heard that in Chapter 7 "is a" Liquidation of assets and Chapter 13 is a "reorganization of debt". I have to do anything other than a computer, two old TV. Can they understand it? much debt. how could file Chapter 7. Can I be me or file Chapter 13? What are the qualifications or requirements?

Yes, you Chapter 7 can not file personal property. The U.S. Trustee will determine if you abuse the system and whether your debts could be forgiven. The rules has to do with your earning, compare the average income in your are, your net income (after deducting the average cost of living) and, above all, you have not filed Chapter 7 within the last 8 years. Once they have determined that you qualify for Chapter 7, most of your debts are adopted. Exceptions, including certain credit card debt, car loans and income taxes. If you find that you are not for Chapter 7, they are set on Chapter 13 with debt consolidation and payment plan for the next 5 years. You must attend credit counseling in both cases. And have prepared all your accounts for audit purposes. Best wishes.

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