I’ve heard that chapter 7 is a "liquidation of assets" and chapter 13 is a "reorganization of debt".

I don’t own anything except a computer, two old TVs. Can they take that?

Have lots of debt. Would like to file chapter 7. Can I or will they make me file chapter 13? What are the QUALIFICATIONS or REQUIREMENTS?

Technorati Tags: assets, chapter 13, chapter 7, liquidation, old tvs, reorganization

I know a company can file for different types of Bankruptcies, like Chapter 11 which allows a company to reorganize, or Chapter 7 which involves the process of Liquidation….but my question is, once a company has declared Bankruptcy, who in the company is actually responsible for going through with everything? The CEO and CFO? The stockholders? The private investors? The federal government?
Like, what if a company files Bankruptcy and they owe their investors money….what if they are unable to repay the investors, even after the liquidation process?

Technorati Tags: bankruptcy, ceo, chapter 11, chapter 7, federal government, liquidation, money, private investors, stockholders, types of bankruptcies

In the past several weeks my stocks have all done very well. Now do do you think everything is going to crash if chrysler begins bankruptcy and liquidation next week. The stocks are not in automakers but will this have a bad effect on all stocks?

Technorati Tags: automakers, bankruptcy, chrysler, crash, liquidation, stocks