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File Bankruptcy Chapter 7 by yourself

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Anyone can file chapter 7 type of bankruptcy without hiring the services of a bankruptcy lawyer.  All you need to do is prepare your documents and file them within the time period.  Try to learn the basics about bankruptcy chapter 7 before you start to file bankruptcy chapter 7 by yourself.  This makes you more aware of what you are doing and makes you cautious when you prepare your papers because mistakes can cause you to lose more assets.

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So what is chapter 7? Chapter 7, commonly known as the liquidation type of bankruptcy, liquidates your assets in exchange for your debts to be discharged.  This is a very popular type of bankruptcy because of how quick it eliminates your debts.  Most of your properties will be subject to liquidation except for those properties that are called exempt properties.  Remaining debts after the liquidation process are considered to be forgiven.  Take note that this type of bankruptcy is difficult to file.  The new law made effective last October 2005 has raised the limits on who can file a bankruptcy chapter 7.

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Now back to file bankruptcy chapter 7 by yourself.  If you really want to do it alone then the first thing you should do is to prepare your papers or documents.  You can look up in the internet for downloadable PDF bankruptcy forms.  If you want, you can also avail some services provided by these websites.  Be very detailed in filling up your papers because any mistake can really make things go to worst very fast.

When all your papers are done, go to a credit counseling agencies.  You must really do this because it is required by the new bankruptcy law that a person who wants to file bankruptcy should attend a credit counseling session.  This will determine if you can file chapter 7.  This cost about -@.

Although it is possible that you can file bankruptcy chapter 7 by yourself, there are a few factors that you must consider before thinking about doing filing bankruptcy alone.  The first thing is the time you have.  How you manage your time can be a factor on how successful you are in filing your bankruptcy.  You must also understand the bankruptcy laws, regulations, qualifications and process in order to correctly file a bankruptcy.  The time you have to learn all of these things might also make you decide another alternative way to file your bankruptcy.

There is a way you can file bankruptcy that does not need you to spend a lot of money.  This is the safer and quicker way to file.  All you need to do is acquire the service of a petition preparer or a bankruptcy lawyer to prepare your documents.  Then pay them their flat fee and do the filing by yourself.  This way, you avoid the risk of having mistakes in your papers.  Petition preparers and bankruptcy lawyers are authorized and are professional when they handle your documents compared to you.  For more support on how to file bankruptcy, visit the link below.

Steve Young is the author of The #1 Secret On How To File Bankruptcy. To get your free CD on How to File Bankruptcy Without an Attoney, go to www.onlinebkassist.com


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Chapter 13 Bankruptcy Forms Checklist

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Do you want free bankruptcy forms for your Chapter 13 filing? Declaring personal bankruptcy without an attorney requires submitting many legal forms yourself. As a ‘pro se’ (pronounced ‘proh say’) filer, the United States Bankruptcy Court is expecting you to exhibit ‘due diligence.’ A majority of the work is trying to figure out independently how to fill out the court forms. You need to complete many official forms before you can file them. If you visit the official download page of your local Bankruptcy Court, you’ll see several forms listed in there. The page lists both business and consumer bankruptcy forms together. What’s worse is the forms don’t have any clear categories. For example, which forms are needed for Chapter 13 or for Chapter 7? Your initial obstacle is to research which official forms to use.

Chapter 13 Bankruptcy Forms Checklist to the Rescue

To make your task easier you should get a Chapter 13 bankruptcy forms checklist. You will see many websites offering free bankruptcy forms but only a few of them offers a checklist. If you happen to visit a website offering a free Chapter 13 checklist then do not hesitate to get it quickly. It is to your own advantage.

A good Chapter 13 checklist can tell you which form to use if you want to pay the filing fee in installments. Some of them contain due dates for each form. For example, which forms do you need to file after paying the court fees? Which forms can you file within 15 days?

Commercial VS Free Bankruptcy Forms

One of the benefits of using a commercial kit is convenience. A Chapter 13 bankruptcy kit can save you time and frustration in understanding the bankruptcy process. If you are planning to buy one, make sure the kit contains completed sample of each forms. A sample repayment plan can give you an insight on how to decide your own Chapter 13 plan.

Another important feature to consider is how recent the forms you are buying. The Federal Court updates the official forms from time to time as they see fit. Never buy from a seller that cannot tell you when they last updated their product. Using old forms can have negative consequences to your case.

What is Your Backup Plan?

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If for some reason you decide that self-filing is too difficult for you, it’s wise to have a backup plan. Filing personal Chapter 13 bankruptcy can be a daunting task for some individuals. For the average debtor, reading tons of instruction manuals can give them a headache. Having a free alternative plan is always a wise decision when things don’t work out as you want them to.

Roilee Mandeville maintains a consumer bankruptcy website where you can find inexpensive bankruptcy filing solutions that will fit your budget. For a limited time you can get a free Chapter 13 bankruptcy forms checklist. A handy guide you can use when filing bankruptcy. The FREE checklist will only be available for a few days so hurry and get it today!


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Filing Chapter 7 For Business Bankruptcy

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Business bankruptcy is known as the approach intended to allow a hard industry relieve or just payback its debts from the security of the bankruptcy declaration. Generally on the method of bankruptcy filled out by a industry, business bankruptcy result in possibly reorganization or liquidation. There exist 3 sorts of business bankruptcies that include: chapter 13, chapter 11 or chapter 7.

Considering chapter 7 bankruptcy claim, the business ends all tasks and leaves wholly of business. A trustee is often equiped to assist you to sell your firm’s sources (separated it between loan creditors) for you to clear the business’s arrears. Generally, chapter 7 bankruptcies result in your business is end. A little singular vendor will be legally dispatched by the end of the chapter 7 bankruptcy; enterprises and even partnerships won’t obtain a relieve. This way of business bankruptcy is the best for companies that will be troubled with debt issues and it’s could not remain restructured.

Distinct from chapter 7 bankruptcy, chapter 11 bankruptcy give the firm to go on operating within the influence of your bankruptcy court. During that interval, the bankruptcy court will have to grant all the vital enterprise possibilities. In that instance, a firm is usually reorganized within legal fitted trustee; in certain cases, the agency person often is the trustee. This business will probably report a policy of reorganization to help you factor how it will probably refund the loan companies. This method for business bankruptcy is best for companies that often have the next and are usually not confused with debt.

Another method of business bankruptcy is chapter 13 bankruptcy. Chapter 13 bankruptcies tend to be intended for singular proprietorships and is particularly referred to as a reorganization bankruptcy. A firm which often records for the chapter 13 bankruptcy can provide a payment plan which factor the way they will settle loan debt. Data of your payment plan typically depend upon the actual business’s profits, length of loan debt, and therefore the amount of their own features.

Due to the fact sole proprietorships are generally official extensions of a person, the individual is accountable to all the assets and liabilities of the business. Based upon its profits, a exclusive proprietorship may perhaps declare the chapter 7, chapter 11, or chapter 13 bankruptcy. To help you file for a business bankruptcy, a one proprietorship have to satisfy the state’s every month income standards, which is typically deliberated by a state’s mean income. In case the singular proprietorship’s income is above your state’s mean revenue, the individual must therefore undergo a means test to view in case their extra money every month is suitable for any chapter 7 or a chapter 13. The individual of a singular proprietorship should also go through vital credit counseling trainings when filing for bankruptcy and also prior to debts will be cleared.

Because organizations and partnerships are typically authorized choices separate from their owners, they will basically declare themselves bankrupt using chapter 11 or chapter 7. Also they are unable to be dropped by bankruptcy. A partnership is lacking in the protection around its owners and its debtors; so, a relationship is commonly treated as a singular proprietorship. Both the vendors are accountable for your debt, and therefore a creditor can move contrary to any one of the partners for your loan debt.

Looking for right attorney for your business bankruptcy filing? Bankruptcy attorney Chino can greatly help you in relieving your debt related to the business. Visit our site for a free consultation with our bankruptcy lawyer Chino.

Nancy Shevell is an expert article writer for bankruptcy related topics. Visit our site, to find more information about business bankruptcy


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Consumer and business bankruptcy cases are similar with regard to the discharge of debt, yet they vary when it comes to re-organizational process. Learn about the complex and expensive process of filing bankruptcy as either a consumer or business with information from a lawyer in this free video on bankruptcy. Expert: Andy Forman Bio: Andy Forman, Attorney at Law, has been in bankruptcy representation for over two decades and has lead council in over 3000 bankruptcy cases. Filmmaker: Christopher Rokosz

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Wickes Furniture Seeks Chapter 11 Protection

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xml:lang=”en” lang=”en” xmlns=”http://www.w3.org/1999/xhtml”>

Wickes Furniture Seeks Chapter 11 Protection










Wheeling, IL (PRWEB) February 4, 2008

Wickes Furniture announced that it has filed petitions in the U.S. Bankruptcy Court for the District of Delaware for relief under Chapter 11 of the U.S. Bankruptcy Code on February 3, 2008. The Company will continue to operate its stores while under Chapter 11 protection.

The Company has filed various first-day motions with the Bankruptcy Court intended to allow the continued operation of its business. In addition, the Company has arranged and sought Bankruptcy Court approval for a $ 30 million debtor-in-possession credit facility to be provided by Wells Fargo Retail Finance. With this facility, the Company will have sufficient liquidity to operate its business through the bankruptcy proceedings.

“The company is currently pursuing several alternatives. We are hopeful we will be successful,” said Wickes chief restructuring officer Michael Buenzow of FTI Consulting.

The case number for Wickes’ filing with the U.S. Bankruptcy Court for the District of Delaware is #08-10212, and further information will be available online at http://chapter11.epiqsystems.com/wickes.

About Wickes: Wickes Furniture is one of the leading furniture retailers in the United States with 43 retail stores serving greater Chicago, Los Angeles, Las Vegas, and Portland. Founded in 1971, Wickes offers attractive room packages featuring complete living rooms, dining rooms, bedrooms as well as bedding, home entertainment, accessories and accent furniture. Wickes employs over 1,700 employees and offers products from leading furniture and bedding manufacturers. Additional information about Wickes is available at http://www.wickesfurniture.com.

MEDIA CONTACT:

Suzanne Forsythe 847-520-6897

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Chapter 7 Bankruptcy Costs

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bankruptcy costs
by Muffet

A chapter 7 bankruptcy costs depend on your approach when you file your bankruptcy.  Before you even take your bankruptcy petition and documents in the bankruptcy court, you need to prepare it.  You need to shell out money out of your pocket when you prepare your bankruptcy papers.  This is not required and you can prepare your papers by yourself to save some money.  This method can be very cheap because you do not need to hire a professional to prepare your bankruptcy documents.  The only risk here is that you need to be certain that what you do is correct because any mistakes can have a huge effect on your bankruptcy filing.  The worst case scenario would have to hand over more properties for liquidation than you need in the first place.

If you want to prepare your papers by yourself but do not want to avoid making mistakes then I suggest you try to learn more about the bankruptcy basics, legal terms, process and more.  You can do this at home in front of a computer with an internet connection.  Just go online, surf the web and look for bankruptcy sites.  If you have a printer you can download free PDF bankruptcy forms, also you can avail the service of an online bankruptcy lawyer to help you.  One thing to remember here is that these bankruptcy sites are not meant to replace the legal advice of any bankruptcy lawyers if ever you have one.

If this is too much work for you, then hiring a full time bankruptcy lawyer might be the best thing for you.  The only question you will need to answer is if you can afford one.  This can be quite expensive considering that money is your problem in the first place that is why you cannot pay your debts.  But if you do have an allotted amount to hire a bankruptcy lawyer then by all means go for it.  Just make sure you always ask questions to your bankruptcy lawyer about anything that you do not understand or something you are confused about.  Also make sure you find the right lawyer that suits you, never compromise to a bankruptcy lawyer you do not like; you can always find another one.  Having a bankruptcy lawyer is highly encouraged because they will guide you through the bankruptcy process, represents you in the creditors meeting, give you legal advice and take your case in the bankruptcy court.

You can lower chapter 7 bankruptcy costs but still be able to afford to hire the services of a legal professional by going to a petition preparer or a bankruptcy lawyer to prepare your papers.  You will be confident that your papers are properly prepared and have no mistakes.  This is the most affordable process.  You will only need to spend on their flat fee.  Then you can take your bankruptcy papers in the bankruptcy court and file.  This way, not only will you be able to save time but also some money.  For more support on how to file bankruptcy, visit www.onlinebkassist.com.

Steve Young is the author of The #1 Secret On How To File Bankruptcy. To get your free CD on How to File Bankruptcy Without an Attorney, go to http://www.onlinebkassist.com


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Which bankruptcy chapter is the least expensive?

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Nowadays nearly everyone is now going for the cheapest way to procure goods and services. Perhaps this is a result of the recent global financial crisis that crop up a couple of years ago.

 

From communication services, cosmetics, perfume, clothing, gifts and toys, beverages, infant foods, performance and healthcare nutrition, seasonings, frozen and refrigerated foods, confectionery, pet food, and all that it seems that people these days opt to get the least expensive ones.

 

On the other hand, when it comes to bankruptcy, Chapter 7 is the cleanest, easiest, quickest, and least expensive form of bankruptcy in general. In a chapter 7 case, Debtors surrender their nonexempt property, if any exists. The Chapter 7 trustee then converts the property to cash and pays the debtors’ creditors. In fact, very, very few Chapter 7 cases involve the loss of property by a debtor.

 

Actually, chapter 7 bankruptcy is the most common form of bankruptcy that most people use. Under Chapter 7 Bankruptcy, a court appointed trustee will sell your non-exempt personal property and use the proceeds from the sale to repay your debt obligations. All creditors will have a priority rating and they will be paid in the order outlined under federal bankruptcy law. Chapter 7 Bankruptcy will take approximately four to six months to complete. Chapter 7 Bankruptcy is considered a liquidation of your assets. If you do not have any assets it will be a “no-asset” case.

 

Chapter 7 Bankruptcy will immediately discharge most qualifying unsecure debt including: hospital bills, unsecure personal loans and credit card bills. If you are an individual, married couple, corporation or partnership, you may qualify to file Chapter 7 bankruptcy.

 

Furthermore, it is important to contact your Bankruptcy attorney so as to determine if you can file Chapter 7 Bankruptcy. If you can, your attorney will file all your bankruptcy forms including your schedules, petitions, and Statement of Financial Affairs. Your Statement of Financial Affairs will list all your debts, your assets, your creditors, your property and your expenses and income.

 

Filing Chapter 7 Bankruptcy will also temporarily halt all collection efforts under a “temporary stay”. Collections may continue if the bankruptcy judge determines there is “cause”. Certain collection efforts for non-dischargeable debts will not be affected by filing Chapter 7 Bankruptcy.

 

When you come right down to it, Chapter 7 is the fastest and least expensive method for obtaining relief from debt.

Jakob Truss is the owner of the Pittsburgh Bankruptcy Help blog, a blog that contains articles related to Bankruptcy in Pittsburgh.


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Can I file bankruptcy chapter 7?

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In order to be eligible for Chapter 7 Bankruptcy, you must meet several criterias. Under the old bankruptcy rules, the bankruptcy judge had the authority to dismiss a Chapter 7 Bankruptcy case if the judge believes that the debtor had sufficient disposable income to fund a Chapter 13 repayment plan. Also there were no strict rules dictating when a judge can dismiss a case on these grounds as it depended on the facts of the case and the judge’s attitude.

Now that the new bankruptcy law has came into force, there are specific criteria that dictate who will be allowed to stay in Chapter 7 Bankruptcy and who will be forced to use Chapter 13 bankruptcy if they want to file bankruptcy. Disabled veterans whose debts were incurred during active duty and people whose debts come primarily from the operation of an enterprise get a rapid transition to Chapter 7 bankruptcy. All others must meet the following requirements to be eligible for Chapter 7 Bankruptcy.

 

Eligibility requirements for Chapter 7 Bankruptcy

Answering the following questions will help you determine whether you are eligible to file bankruptcy chapter 7 or not.

 

What your current monthly income?

Under the new rules, the first step to understanding if you can file for Chapter 7 bankruptcy is to measure your “current monthly income” against the median income for a family of your size in your state. Your “current monthly income” is your average income over the last six months before filing. If your income is less than or equal to the median, you can claim Chapter 7 bankruptcy. If your income is above the median, however, you must use “means test”, another requirement of the new law in order to file for Chapter 7 bankruptcy.

 

Can you repay some debts?

The purpose of the means test is to figure out whether you have enough disposable income, after deduction of certain allowable expenses and required debt payments, to repay at least a portion of your unsecured debts over a period of repayment five years.

 

Did you receive any previous discharge in bankruptcy?

You can not file for Chapter 7 bankruptcy if you obtained a discharge of your debts in a Chapter 7 bankruptcy in the past eight years or a Chapter 13 case in the past six years.

 

Was your bankruptcy request dismissed over the last 180 days?
You can not file for Chapter 7 bankruptcy if a previous Chapter 7 or Chapter 13 case was dismissed within last 180 days. Chapter 7 or Chapter 13 Bankruptcy cases are mostly dismissed due to the following reasons: you violated a court order, or
court ruled that your filing was fraudulent or constituted an abuse of the bankruptcy system, or
you requested the dismissal after a creditor sought relief from the automatic stay.

 

Did you cheat your creditors?
A bankruptcy court may dismiss your case if it thinks that you tried to cheat your creditors or concealed assets so you can keep them for yourself. If you were engaged in any of such activities during the past year, your bankruptcy case may be dismissed. These activities are red flags to the courts and trustees, like: unloading assets to your friends or relatives to hide them from creditors or the bankruptcy court
running up debts for luxury items when you were broken and could not afford
concealing property or money from your spouse during the divorce proceedings, or
you lied about your income or debts on a credit application

 

Remember

In addition, you must sign your bankruptcy papers under “penalty of perjury” swearing that everything specified is true. If you deliberately fail to disclose property, omit important information about your financial situation, or use a false Social Security number to hide your identity and the court discovers your action, your case will be rejected and you can be prosecuted for fraud.

 

 

It’s my pleasure to share the knowledge acquired based on my experiences. Ask legal questions and get free answers, search legal documents, discover more helpful legal articles and much more at ProSeAnswer.com.

 


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Understanding Chapter 13 Bankruptcy

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Chapter 13 Bankruptcy filing is for individuals in the United States to undergo a financial reorganization, which is supervised by a Federal Bankruptcy Court. The individual who is badly in debt can file for Bankruptcy either under Chapter 7 or Chapter 13 or Chapter 11. The debtor chooses under which Chapter he or she is going to file for bankruptcy. The debtor’s financial characteristics and the type of relief sought play a great role in the choice of chapters.

The US Code sets forth debt limits for individuals to be eligible to file under Chapter 13 –

Unsecured debts of less than 6,900 and secured debts of less than ,010,650 subject to annual cost of living increase (secured debt gives a creditor the right to take a specific item of property like home or car. Unsecured debt is a credit card or a medical bill).

Under Chapter 13, the debtor plans to pay his creditors over a period of three to five year. During this period, his creditors cannot attempt to collect the individual’s previously incurred debt except through the bankruptcy court. The individual keeps his property and its creditors get less money than they are owed.

The most important criterion for an individual to be able to file for chapter 13 bankruptcy is that the person must have a regular income. The bankruptcy-filing petition must be accompanied by the proposed payment plan to provide the payment of all priority claims. Priority claims are those claims that are given a special status under bankruptcy law such as taxes and the cost of bankruptcy proceedings. If the person is unable to complete the priority plan due to serious illness or loss of job, it can ‘justly be held accountable’. If the debtor fails to keep up payments as per the plan, the bankruptcy court may terminate chapter 13 to dismiss the proceedings entirely resulting in collection efforts resuming as before.

A chapter 13 plan is a document filed with or shortly after a debtor’s chapter 13-bankruptcy petition. The plan gives a detailed report of the treatment of debts, liens and secured status of assets and liabilities owned or owed by the debtor in connection with his bankruptcy petition. It has to meet certain requirements like unsecured creditors will receive as much through the chapter 13 plan as they would in chapter 7 liquidation, repay all creditors in full or commit all of the debtor’s disposable income to the chapter 13 plan for at least three years.

Working of Chapter 13 bankruptcy: to keep all of their property, the court approves a new interest free plan for repayment. A written plan is formed to give details of all the transactions that might occur and also the duration. Repayment must begin within 30 to 45 days after the starting of the case. The creditors must strictly adhere to the repayment plan approved by the court and are banned to collect any claims from the debtors. The debtor’s Attorney will prepare the repayment plan.

Advantages of Chapter 13: The advantages of chapter 13 over chapter 7 are: the individual can stop foreclosure and have a mortgage upon bankruptcy plan completion, achieve a super discharge of debt kinds not dischargeable under chapter 7 and value collateral to diverge the security interest of creditors where creditors either charge too much interest or are over secured or both and to prevent collection activities against non filing co-signers. Another advantage of Chapter 13 is that repayment can be created even if creditors disagree with it as long as the court approves it.

Disadvantages of Chapter 13: The main drawback of filing personal bankruptcy is that a record of this stays on the individual’s credit report for ten years. During this period, the debtor is not allowed to obtain additional credit, without the bankruptcy court’s permission.

Since chapter 13 bankruptcies require to use the person’s income to repay some of the debts it is necessary to prove to the court that he or she can afford to meet the payment obligation – if the income is irregular or too low, the court might not allow to file the chapter 13. Before filing for bankruptcy it is necessary to receive credit counseling from an agency approved by the United States Trustees’ Office.

http://www.assistfinancial.info extensively deals with bankruptcy to help laymen understand the legal process better. http://www.monetaryguru.com helps find better solutions to avoid foreclosures.


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An Overview of Chapter 13 Bankruptcy from FindLaw. URL: www.findlaw.com
Video Rating: 4 / 5

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Difference between Chapter 11 and Chapter 13 bankruptcies?

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Question by Bret: Difference between Chapter 11 and Chapter 13 bankruptcies?
Any other Chapters for bankruptcies?

Best answer:

Answer by Jordan
Chapter 7: A chapter 7 bankruptcy case does not involve the filing of a plan of repay-reorganize chapter 13. Instead, the bankruptcy trustee gathers and sells the debtor’s nonexempt assets and uses the proceeds of such assets to pay holders of claims (creditors) in accordance with the provisions of the Bankruptcy Code. Part of the debtor’s property may be subject to liens and mortgages that pledge the property to other creditors. In addition, the Bankruptcy Code will allow the debtor to keep certain “exempt” property; but a trustee will liquidate the debtor’s remaining assets. Accordingly, potential debtors should realize that the filing of a petition under chapter 7 may result in the loss of property.
Chapter 9: available exclusively to municipalities and assists them in the restructuring of debts.
Chapter 11: It postpones a company’s obligations to its creditors, giving it time to reorganize its debts or sell parts of the business, for example.
Chapter 12: available only to family farmers and fishermen in certain situations. It is similar to Chapter 13 in some ways, but in other ways benefits farmers and fishermen in ways other than that which is available to ordinary U.S. wage earners.
Chapter 13: The chapter of the Bankruptcy Code providing for adjustment of debts of an individual with regular income.
Chapter 15: Cross-Border Insolvency

What do you think? Answer below!

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When Should You Consider Before Filing Chapter 13 Bankruptcy?

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Chapter 13 bankruptcy is a good option for those who are in search of debt relief but one should consider it only under certain stipulations.

Those who are in need of debt relief can consider chapter 13 bankruptcy. But a debtor should be aware of few things and should be cautious before he files for chapter 13 bankruptcy. He should also know the major difference between chapter 7 bankruptcy and chapter 13 bankruptcy. Bankruptcyonly provides excellent services for filing both the bankruptcy and even helps to clear the doubts.

First of all a debtor should know that filing bankruptcy is not a small thing and there are great difference between chapter 13 and chapter 7 bankruptcy. If a debtor file chapter 7 bankruptcy than his major debts would be discharged. A debtor can easily get a fresh financial start after filing chapter 7 bankruptcy.

Chapter 13 bankruptcy rules are very different from chapter 7. It usually takes three to five years to finalize chapter 13 bankruptcy and the debtor is set in payment plan for three to five years. Here the debtor has to pay the decided amount to their creditors every month. Later discharge is given after completing the payments.

There are pros and cons of everything and same is the case with chapter 13 bankruptcy. In this type of bankruptcy, the completion rate is very low. Many people don’t succeed in filing this bankruptcy thus there are chapter 13 bankruptcy eligibility and one should file it only under the following situations:

If a person is behind on his mortgage payment and he wants to stay in his house than he can file chapter 13 bankruptcy.
Whenever a person is not eligible for a loan modification than he usually files bankruptcy.
One cannot file chapter 7 bankruptcy if he earns too much because one cannot declare chapter 7 if he is below the median income and in that case, he has to file chapter 13 bankruptcy.
When a person wants to keep non-exempt assets than he filing chapter 7 bankruptcy is not a good option. File Chapter 7 bankruptcy permits one to keep his personal property but there are limitations. If a person wants to keep his sedan or Rolls Royce then he should file chapter 13 bankruptcy.

Thus one should file chapter 13 bankruptcy only under the above stipulations. One has to provide all personal bankruptcy information to his lawyer to file bankruptcy. Even if one wishes to keep few assets than he can do it buying it from the trustee and this is possible only in chapter 13 bankruptcy case.

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