Writ

Chapter 7

This section of the Federal Bankruptcy Statute governs asset liquidation, involving the disposition of a debtor's unprotected assets and the allocation of the resulting funds to creditors.[1] To qualify for Chapter 7, the debtor must fulfill a financial assessment known as the "means test."The court will examine the debtor's earnings and expenditures to ascertain if the debtor is permitted to file under Chapter 7.