Laputka Law Office Explains Chapter 7 Personal Bankruptcy for Pennsylvania

In a personal bankruptcy chapter 7, debtors wipe out their debts and get a fresh start.
Chapter 7 bankruptcy is a liquidation where the trustee collects the debtors nonexempt assets and sells them
Alimony, child support, fraud debt, certain taxes, and certain items charged cannot be discharged in chapter 7
Chapter 7 Bankruptcy
In the vast majority of cases, people filing for bankruptcy will have large credit card debt and few assets.
In a Chapter 7 personal bankruptcy, all debts are wiped clear.
If debtors decide that they want to keep their house, car, or furniture they can reaffirm that debt.
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