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About Chapter 7 Bankruptcy


Based in Milwaukee, Wisconsin, attorney Christopher Carson serves clients out of his private practice where he works on cases involving criminal, family, and bankruptcy law. In his work, Christopher Carson provides counsel to clients on all types of bankruptcies, including Chapter 7 bankruptcy.

Along with Chapter 11 bankruptcy, Chapter 7 bankruptcy is one of the two options available to individuals seeking relief from financial obligations. Unlike Chapter 11, Chapter 7 does not involve setting up a payment plan, but rather solicits a trustee of the court to examine the individual’s financial means, catalog their assets, and then liquidate any of those assets that are not exempt from sale. Clothing, personal items, business assets, and retirement accounts are typically exempt assets, and sometimes a home and vehicle can be exempted as well. 

Within 180 days prior to filing Chapter 7 the individual must undergo mandatory credit counseling, and then present the certification of completion when filing. They must then provide a list of assets, income, expenses, and contracts. A court-appointed trustee will then issue a stay on all collection efforts and meet with the individual to determine eligibility and which assets are subject to liquidation. Creditors then have an opportunity to object. After the trustee rules on the objections, the individual receives the final bankruptcy discharge.

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