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What happens after chapter 7?

Updated: 9/5/2021
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Chapter 8

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Q: What happens after chapter 7?
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What happens in chapter 7?

You need to read the chapter.


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What happens to the interest rate on your credit card if you've filed for Chapter 7 Bankruptcy?

If the credit card was included in the Chapter 7, nothing happens. The account will be closed by the creditor and the amount owed including any accrued interest is wiped out.


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It depends on whether or not you qualify for Chapter 7 or Chapter 13. For Chapter 13, you will slowly have to pay your creditors back over time. For Chapter 7, you have to assign a value to everything that you own. The creditors will then determine whether or not these items will be included in the bankruptcy in a hearing.


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