Bankruptcy Chapter 7 Explained (2021)

Chapter 7 bankruptcy should not be taken lightly. In this video I explain chapter 7 bankruptcy, why you may want to consider it, who is a good candidate, and the consequences of filing a chapter 7 bankruptcy.

If you live in Arizona and would like to discuss your bankruptcy options give me a call at (480) 464-1111 or learn more about the process online by going to

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16 Responses

  1. The Jag Lifestyle says:

    Love your videos, I’m looking into bankruptcy for medical bill that my insurance is not covering even when they said they would cover 70% if they cover their portion I will still owe 90,000 and I’m scared if they don’t over that’s well over 250,000 I just don’t know if we can do ch7 since we didn’t pass the means test we came in over but that is a large amount of debt and scared of what would happen since we can’t pay it any advice

  2. David Hubbard says:

    I'm glad I declared bankruptcy 21 years ago. The hardships associated with the bankruptcy were not nearly as bad as the crushing debt.

  3. Alberto Diaz says:

    Hey John, greeting. Your video helped me.
    I pay almost 900 hundreds a month in credit cards and I haven’t used them during the pandemic. I am also collecting unemployment. I owed 30 thousand. I can’t continue paying, my savings are getting finished.
    Question: can I declare bankruptcy now? Thanks.

  4. Jessica Sanchez says:

    If you have a kid college fund and your kid is going to college next year, will you have to give that $$ up if filing bankruptcy?

  5. A V says:

    You have helped me so much. Very informative!!! Do you offer consultation and what are fees?

  6. Misty DeJames says:

    John just found your channel, filed on oct 1st 2021. I listed sister owed 3000$ for scam @ 900 $ for scam. He told me i would need money back, preference. As I walked out I said we didnt file yet I want my sister @ friend off, he said ok. Must not have heard me. I met yesterday. He said stearn voice. How much have you paid sister back. I was crying. I said all of it @ your friend all of it. How my father bailed me out, he always does. Obviosley they new i didnt understand them. Told me to bring father in. 3000$ was for scam on fb. 900 gambling. No proof. Got home remembered close to date march 15 ish didnt tell father for 2 months scared. No paper proof . They both have safes? Omg please help. Meeting monday feb.22. Lawyers

  7. Ken Connelly says:

    I filed a chapter 7 against the presumption of abuse last year. I was financially distressed enough that I would have filed 13 if my employment had stayed. I didn’t wait long enough for the 6 month look back to get low enough. My bankruptcy was ultimately approved by the US Trustee’s office to proceed under 7.

  8. Shezad Ali says:

    What income in Texas qualify for chapter 7 bankruptcy

  9. RUN THE NUMBERS says:

    Hey John, great advice! I have a unique situation. I opened a bunch (60+) of credit cards with many of them having an address at a UPS drop box or friends house. Several of the cards were charged off in 2019.
    Sheriffs have now shown up at two of my friends houses looking for me (one in 2019 and one last week). I assume to serve me a lawsuit. My friends told the sheriff that I don't live there and never had.
    Would default judgements be issued against me in these cases? I have no car or house mortgage so I like your "do nothing"plan. Checked my credit report and it looks like Amex, Portfolio Rec, and Midland are all on there in collections. What a time to be alive!

  10. James Norman says:

    Hey John, where can I get a number for Thinkific support for your courses? I'm locked out of my old email address and cannot log in and have a somewhat urgent need for one of my purchased courses and the accompanying forms. I've emailed you, but I might have ended up in the spam folder. Thank you.

  11. TheSushiandme says:

    I had to do chap 7. My banks and credit cards were going to sue me…

  12. Alex Chavez says:

    Great content!

    Video Request: Mr Skiba, one of the things I often read on defenses in a debt collection lawsuit (from an original creditor) is if the platiff cannot produce an original contract with your signature on it then they are not entitled to judgment. Mounds of old statements aren't sufficient.

    I would like to see a video on whether or not this argument holds any water ? Appreciate all you do. Regards from Yuma, Arizona

  13. Christopher Spiller says:

    Can you do a chapter 13 (2021) version? Good videos too! Thanks!

  14. Soul of New York says:

    If you can't pay off your debt in 2 years, file for bankruptcy with a experienced bankruptcy lawyer and make sure to get a second opinion if you feel unsure.

  15. newstarcadefan says:

    This is good advice. I too second folks to get an attorney who's experienced in bankruptcy law, and to take the required literacy courses in financial matters…and to not make purchases with their credit cards, or to open up a payday loan or a Fingerhut account.

  16. keith garrison says:

    My only advice is….get a lawyer…. don't attempt to do this by yourself….

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