What is a Chapter 7 Bankruptcy?

Chapter 7 bankruptcy, sometimes call a straight bankruptcy is a liquidation proceeding. The debtor turns over all non-exempt property to the bankruptcy trustee who then converts it to cash for distribution to the creditors. The debtor receives a discharge of all dischargeable debts usually within four months. In the vast majority of cases the debtor has no assets that he would lose so Chapter 7 will give that person a relatively quick "fresh start".

Will my creditors stop harassing me?

Yes, they will! By law, all actions against a debtor must cease once the documents are filed. Creditors cannot initiate or continue any lawsuits, wage garnishees, or even telephone calls demanding payments.   Secured creditors such as banks holding, for example, a lien on a car, will get the stay lifted if you cannot make payments.

How long must I wait to file again?

A person can file Chapter 7 again if it has been more than 8 years since he or she filed the previous Chapter 7 bankruptcy.

What debts are discharged by a bankruptcy?

Most unsecured debt is erased in a bankruptcy except for:

1. Child support and alimony.
2. Debts for personal injury or death caused by your drunk driving.
3. Student Loans.
4. Income tax debt

What does it cost?

We have a payment plan so call us for a quote.

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