Chapter 7 Bankruptcy

A Chapter 7 Bankruptcy allows you a fresh start.  A Chapter 7 bankruptcy is many times referred to as a straight bankruptcy or liquidation.  To file a Chapter 7 Bankruptcy, the law requires you to meet certain income requirements.  We will gladly assist you in determining whether your income meets the requirements for a Chapter 7 Bankruptcy filing.  Call now to determine whether you qualify for a Chapter 7 bankruptcy.

 

What are the benefits of a Chapter 7 bankruptcy?

  • Allows for qualified debtors to discharge their debt
  • No debts are paid back
  • Quick and easy process, if you are represented by an experienced bankruptcy attorney
  • Creditors MUST stop collections actions against you once your Chapter 7 bankruptcy is filed


Get a fresh start with a  Chapter 7 Bankruptcy!

You will meet with an experienced bankruptcy attorney at your free consultation.


Common Questions

Who can file a Chapter 7 bankruptcy?

Individuals who qualify under the means test may file a Chapter 7 bankruptcy. The means test is a form that compares an individual’s income and expenses to IRS standards. This is a very complicated test that requires an experienced bankruptcy attorney’s knowledge.

How long does a Chapter 7 bankruptcy last?

A Chapter 7 bankruptcy last approximately between 4 and 6 months from the date it is filed until the date a discharged is entered. We can file the case the day you come into our office if you have all the appropriate paperwork.

How long is a Chapter 7 bankruptcy on my credit report?

A Chapter 7 bankruptcy is on your credit report for 7-10 years. As soon as the Chapter 7 bankruptcy is filed, creditors cannot take collection actions against you. Once you receive a discharge in your case, you are no longer responsible for the debt. As soon as you receive a discharge you can start rebuilding your credit.

Do I have to attend court if I file a Chapter 7 bankruptcy?

Everyone who files a Chapter bankruptcy must attend a 341 Meeting of Creditors. This will take place in a meeting room, not a court room. Once you hire us for your bankruptcy, we will represent you at the 341 Meeting of Creditors. The Trustee will ask questions to verify you do not have any undisclosed assets and to make sure the paperwork filed on your behalf is true and correct.

How often can I file a Chapter 7 bankruptcy?

A Chapter 7 bankruptcy can be filed every 8 years. To determine the amount of time between filings, you look at filing date to filing date.

What is a discharge?

A discharge is a court order that eliminates the Debtor’s obligation to pay the debts. A discharge will not be granted in a Chapter 7 bankruptcy until a Financial Management course is completed.