S. Courts and asset scenarios closed from the U.S. Trustees and ninety three% ended up “no asset scenarios,” indicating There exists not adequate equity or value in the assets for just a trustee to provide it and repay creditors.
No New Personal debt — A whole new
Usually, the court docket will reopen a closed bankruptcy Should the debtor has more house or assets the Chapter 7 trustee must administer or If your court ought to provide the debtor some sort of aid, including eliminating a qualifying judgment lien.
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Passing the Chapter seven means take a look at and qualifying to wipe out credit card debt which has a Chapter seven discharge tells the bankruptcy court docket that you do not have sufficient cash flow to pay unsecured debts.
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Richmond bankruptcy lawyer Stephen L. Flores usually p