Can I file bankruptcy if I have no assets?

DWQA QuestionsCan I file bankruptcy if I have no assets?
heatherldickerson Staff asked 1 month ago

Yes, under bankruptcy law, you can still liquidate in a Chapter 7, even if you do not have any or substantial assets or property. If there are no assets to be taken, the bankruptcy trustee will declare a no-asset bankruptcy and those creditors cannot therefore make claims on property or assets to pay outstanding debts.