Riviere Cresci & Singer LLC is one the most well-known law firms that you can seek for providing you with an expert legal aid and consultation. With clouds of economic recession still looming on large many residents and corporations of the United States of America, filing for Bankruptcy Laws Chapter 7 has become the last and only viable option left with many defaulters who are unable to pay off their debts. This chapter of bankruptcy is also known as liquidation and is considered as the fastest and the simplest form of bankruptcy that is available to married couples, individuals, and corporations. Bankruptcy court appoints a trustee who is entrusted with the responsibility of selling your non-exempted property and using the amount recovered from the sale to pay off your creditors.You can file for chapter 7 bankruptcy in case you are deemed suitable to qualify for it. Your qualification depends on an overall average of your total income of your household and its size. Once your average monthly income is determined, then the median income for that household size is looked into for the area that you are currently residing in. If your average income is found below the determined media, you qualify to file for Bankruptcy Laws Chapter 7. Do not worry if you cross the median, then you can file for Chapter 13 bankruptcy.