What is Chapter 7 Bankruptcy?

In order to escape from the harassment of creditors and make a fresh financial start, you may want to consider filing chapter 7 bankruptcy.
Chapter 7 will eliminate most debts and allow you to keep your home if you are current with your mortgage payments. On the other hand, Chapter 7 will allow you to end a burdensome mortgage that is greater than the value of the home.
When you can no longer afford car payments, Chapter 7 bankruptcy allows you to return the car without paying the debt even if it is greater than the value of the car.
Chapter 7 bankruptcy can take about four months to complete in the Boston area.