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Chapter 7 Legal Affairs Overview In our complex world, there are many situations where older New Yorkers may need legal assistance. Senior citizens experience many of the same legal problems as the
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Chapter 7 legal affairs refers to the process of filing for bankruptcy under Chapter 7 of the U.S. Bankruptcy Code.
Individuals, businesses, or entities who are unable to pay their debts and meet certain criteria may be required to file for Chapter 7 bankruptcy.
To file for Chapter 7 bankruptcy, individuals must complete a petition, schedules, and other forms detailing their financial situation.
The purpose of Chapter 7 bankruptcy is to provide individuals and businesses with a fresh start by discharging certain debts.
Information such as income, assets, liabilities, and expenses must be reported on Chapter 7 bankruptcy forms.
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