I filed chapter 7 bankruptcy recently. I took a loan some years back. I had been paying back the loan in time before my business went down. After my business going down, I had to sell the business. I did not have any other sources with what I could pay back the loan. I went to a lawyer. He suggested that I should file chapter 7 bankruptcy. I did not have any better option than filing chapter 7 bankruptcy. I had to make a list of all my properties and handed over to the court. Then, the court appointed a trustee to look after my properties and sell them.
I must admit that it was a tough decision to make for me. However, I had to take that decision of filing chapter 7 bankruptcy. The best thing about chapter 7 bankruptcy is one does not have to deal with his or her creditor anymore.
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