I have no assets to sell – how does Chapter 7 bankruptcy works?

I have been reading online about chapter 7 bankruptcy and I don’t understand how it works. I don’t have any assets to sell. How do I pay back my debts with chapter 7?

One Comment

  1. Usually Chapter 7 cases are “no asset” cases. That means that there is no assets to liquidate for your creditors. Usually all your assets are protected under the law from your creditors. It is a rare case that the trustee is able to find any “non-exempt” assets to pay your creditors.

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