Chapter 7 Bankruptcy

Por: South Carolina Bar Association

Chapter 7 refers to straight or liquidated bankruptcy. Under Chapter 7, a debtor (or husband and wife debtors) files a petition for relief, which automatically entitles the debtor to a court order protecting the debtor from the people or businesses to whom he owes money, who are called "creditors."

Última revisión y actualización: Jan 27, 2016