LibGuides: Bankruptcy Guide: Chapter 7

What is Chapter 7 Bankruptcy?

Chapter 7 Bankruptcy is a form of liquidating the debt of the debtor. It does not involve a repayment plan.

Rather, Chapter 7 involves the sale of certain nonexempt assets to satisfy debt. There may be liens placed on various assets belonging to the debtor. There are certain items deemed exempt from this process.

The purpose of Chapter 7 is to eliminate as much debt, or all debt, as possible, and may result in the loss of certain property.

There are strict rules and requirements as to who can qualify to file Chapter 7 Bankruptcy.

You can read more about Chapter 7 on the US Courts Bankruptcy site.

Where can I find forms for Chapter 7 Bankruptcy?

Forms for Chapter 7 Bankruptcy can be found on this page of the website for the U.S. Bankruptcy Court for the Southern District of California, including a package of Chapter 7 Bankruptcy Forms, and National Instructions for completion of bankruptcy forms by individuals.

Forms for Chapter 7 Bankruptcy can also be found on the United States Courts website.

Books in the Library

The following are a few of the print books available at San Diego Law Library on the subject of Chapter 7 Bankruptcy. These book titles are also available online in the Nolo Legal Information Reference Center database, click here for information about how to access these titles online.

How to File for Chapter 7 Bankruptcy
Call Number: KF1524.6 .E4
Want to enjoy a debt-free life? Help is here.You don't have to struggle with burdensome debt. By filing for Chapter 7, relief can be yours in as few as four months. How to File for Chapter 7 Bankruptcy explains the bankruptcy process in easy-to-understand language, including: whether you'll qualify for a Chapter 7 discharge the debts that get wiped out in Chapter 7 the property you'll be able to keep, and how to retain a home or car. Once you're ready to file, you'll use the step-by-step instructions to: complete the official bankruptcy court forms prepare for the meeting of creditors (the one appearance you'll make) file your debtor education course certificates, and rebuild your credit after receiving your fresh start. With Downloadable Worksheets and Sample Forms Get more than 40 additional resources, including samples of completed bankruptcy forms, fillable financial worksheets, current income and exemption charts, motions, and more.
The New Bankruptcy
Call Number: KF1524.85 .E43
Not sure where to start? Let's find the right bankruptcy option for you.You know bankruptcy will help you get back on your financial feet. But which chapter type is best? The New Bankruptcy explains the benefits of Chapter 7 and Chapter 13 bankruptcy. For instance, you'll learn that Chapter 7 will: wipe out credit card balances, utility bills, and more protect property you need to work and live, and take about four to six months to complete. Chapter 13 bankruptcy works by keeping creditors at bay while you: catch up on a house or car payment pay off an overdue tax or support balance, and pay less on other debt, such as credit cards and student loans. The 9th edition's expanded online companion page includes downloadable worksheets and easy-to-use charts, as well as a sample bankruptcy filing on the latest official legal forms.