Chapter 7 bankruptcy

GPTKB entity

Statements (52)
Predicate Object
gptkbp:instance_of gptkb:Crisis_intervention
gptkbp:affects gptkb:scoring_system
gptkbp:allows discharge of unsecured debts
gptkbp:can_be_a_complex_process_involving legal advice
gptkbp:can_be_a_way_to_eliminate medical bills
gptkbp:can_be_dismissed_for failure to comply
gptkbp:can_involve 341 meeting of creditors
gptkbp:can_lead_to liquidation of non-exempt assets
gptkbp:can_provide fresh start
gptkbp:can_provide_relief_from creditor harassment
gptkbp:can_result_in loss of property
gptkbp:discharge student loans
child support obligations
tax debts
gptkbp:governed_by gptkb:U._S._Bankruptcy_Code
bankruptcy court
gptkbp:has_achieved 3 to 6 months
https://www.w3.org/2000/01/rdf-schema#label Chapter 7 bankruptcy
gptkbp:impact future borrowing ability
gptkbp:includes_provisions_for certain assets
gptkbp:involves gptkb:Board_of_Trustees
gptkbp:is_a_form_of debt relief option
gptkbp:is_a_legal_process_for debt relief
gptkbp:is_a_legal_remedy_for overwhelming debt
gptkbp:is_a_process_that_can_help restore financial stability
gptkbp:is_a_process_that_can_lead_to financial recovery
gptkbp:is_a_process_that_may_involve negotiation with creditors
gptkbp:is_a_solution_for all financial problems
gptkbp:is_applied_in gptkb:United_States_federal_law
individuals or couples
gptkbp:is_available_in individuals and businesses
high-income earners
gptkbp:is_different_from gptkb:Chapter_13_bankruptcy
gptkbp:is_filed_by_submitting bankruptcy petition
gptkbp:is_often_described_as liquidation process
gptkbp:is_often_filed_by_individuals_who cannot pay their debts.
gptkbp:is_often_seen_in last resort
a failure
gptkbp:is_often_used_in debtors with low income
gptkbp:is_popular_for those facing foreclosure
gptkbp:is_subject_to automatic stay
gptkbp:known_as straight bankruptcy
gptkbp:legal_status discharged after a period
gptkbp:requires credit counseling
means test
financial disclosures
repayment of certain debts
gptkbp:suitable_for those with significant assets
gptkbp:type liquidation bankruptcy
gptkbp:type_of personal bankruptcy
gptkbp:bfsParent gptkb:Crisis_intervention
gptkbp:bfsLayer 4