Chapter 7 Bankruptcy

Start Fresh with Chapter 7.

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What is a Chapter 7 Bankruptcy?

For those without an income or insufficient money to repay their debts, a Chapter 7 bankruptcy is an option. Chapter 7 bankruptcies are often called “liquidation” bankruptcies because that is the primary mechanism of paying back the debts. The bankruptcy trustee will gather all your nonexempt assets and sell them to pay your creditors. The trustee may even impose a lien or mortgage on your property. Therefore, it is important to realize that a Chapter 7 bankruptcy will likely result in the loss of at least some personal property, and perhaps even a home or other real property.

What are the advantages?

Although you might lose some property, at the end of the day the purpose of bankruptcy is to help you to start over. After completing the Chapter 7 process, you will no longer need to worry about existing debts that have been discharged. A bankruptcy through Chapter 7 also typically takes less time than a Chapter 13 bankruptcy. Without a repayment plan or ongoing payments, you can go through the process faster.

What is my next step?

There are many steps in the Chapter 7 Bankruptcy process, from filing a variety of schedules of assets and income to potential appearances before the court. The code is dense, and there are numerous potential pitfalls based on your amount of income, existing debts, and more. The good news is that Kootenai Bankruptcy is here to help. We have years of experience navigating the bankruptcy courts and we’re ready to help you through this process. Schedule your free consultation today and we’ll walk through the specifics of your situation. Whether Chapter 7 is right for you or not, we’ll advise the best course of action and help you make the decisions that will help your future.


8475 N Government Way Suite 101
Hayden, ID 83835


Monday-Friday, 9am-5pm

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.