Chapter 7 Bankruptcy

Our law firm is an experienced and compassionate chapter 7 bankruptcy law firm. Our bankruptcy attorney fees to represent clients seeking debt relief are extremely affordable and can be handled in payments.

Fresh Start Bankruptcy

Our law firm handles cases for people out of multiple locations and can handle your case in an efficient manner that gives you a true fresh start. No need to spend money on an expensive attorney when you can hire an exceptional and affordable law firm to file your case in a way that will ensure that you are treated well.

What is Chapter 7 Bankruptcy?

Most families and individuals who face financial problems resist bankruptcy at first, but chapter 7 protection can soon become what appears to be your only option if you have been putting it off for many months or sometimes years because you may fear the outcome. Most people who are nervous that the bankruptcy process is too complicated or who worry about losing property like their home, vehicle, or bank accounts quickly learn that this is not the case. Maybe you wonder whether bankruptcy will be so expensive that you will hardly outweigh the amount of your debts, but this is not the case.

We have found that when people put off filing for chapter 7 bankruptcy, unfortunately they miss out of months or even years of peace of mine that they could have had if they would have investigated the process more closely sooner. Bankruptcy protection provided by federal court helps people get a fresh financial start. This means you may not have to worry about the phone ringing with collection harassment. It could mean that you don’t have to worry about having more bills to pay for your debts than you have money coming in. Maybe it means that you will finally be able to start setting money aside for retirement. And in many cases, our law firm can help you discover that after filing with our firm, you could quickly see major improvements in your credit score and rebuild to get excellent credit after bankruptcy.

Our firm has assisted thousands of clients with filing bankruptcy. In each case, the result is to satisfy our clients, offer quick and affordable assistance and to offer you significant elimination of debt as well as more financial freedom. We hear clients tell us that they wish they had filed bankruptcy years ago!

When hiring our law firm to represent you in getting a fresh start, you only have to pay a single affordable set of attorney fees or you can break it down in payments over time.

Reasons People File Bankruptcy

  • Medical Debt (number one cause of bankruptcy)
  • Credit Card Bills
  • Debt Owed to Retailers
  • Payday Loan Debt
  • Utility Bills
  • Toll Bills
  • Garnishments
  • Cell phone bills
  • Bank Levies
  • Bank Garnishments
  • Deficiencies from Repossession
  • Deficiency from a Foreclosures
  • Creditor Harassment
  • Lawsuits from Credit Cards
  • Lawsuits from Broken Leases
  • Lawsuits from Unpaid Debts

Some Benefits of Bankruptcy

  • Release frozen Bank Account
  • Stop Creditor Harassment
  • Stop Wage Garnishments
  • Stop a Foreclosure
  • Stop Eviction (specific requirements may need to be met)

FAQ’s

Why is chapter 7 bankruptcy called liquidation bankruptcy?

For creditors’ losses to be offset, and to satisfy the requirements of the court, assets may be sold or “liquidated” in order to allow the debtor to receive forgiveness of debts. While this is commonly used to describe chapter 7 cases, the reality is that most clients will not have anything liquidated due to exemptions for specific types of assets. The type of assets that may indeed be sold would include items that are categorized as luxury. These “extra” assets like extra vehicles, second homes, expensive jewelry beyond heirlooms and wedding rings can be used to satisfy debts.

Can I keep My Home in Bankruptcy?

Yes, in most cases your home will be exempt in bankruptcy. However, there may be cases where you will have to pay an equivalent amount of equity toward your unsecured creditors in order to obtain a discharge of your debts.

When Can I File Bankruptcy?

You can file bankruptcy multiple times, but there are requirements in order to qualify for filing bankruptcy after you have already filed bankruptcy. For example, you would need to wait 8 years after filing Ch. 7 bankruptcy to file another chapter 7 case. Or you may need to wait 4 years after a bankruptcy chapter 13 to file a chapter 7 bankruptcy. Call our bankruptcy law firm and refer to your attorney for more specific advice regarding whether you qualify to file bankruptcy now.

Can Bankruptcy Stop a Lawsuit?

Yes, not only will bankruptcy stop a lawsuit, but in many cases, the automatic stay from bankruptcy will put a stop to the lawsuit and then the discharge could also allow you to obtain permanent relief from the financial obligation from the lawsuit. This means that the bankruptcy would stop the lawsuit and also in many cases it will erase the underlying debt from the lawsuit.

Can I keep One Credit Card While Filing Bankruptcy?

The laws involving the elimination of debt using bankruptcy lawyers call for the inclusion of all of your debts when filing the case. That does not mean that you cannot continue to pay specific debts after the case is completed; however, it is unlikely that the credit card company will allow you to keep the card open after you have filed, even if it has a zero balance. These financial institutions usually have access to a system called PACER that notifies them of any filings by their customers and they would likely shut the card down at that time.

What is Chapter 7 bankruptcy?

When filing a bankruptcy case, there is a trustee that is appointed to officiate your case. Our law firm communicates with them on your behalf to help you obtain a discharge from your debts that are in qualifying categories. If your debt qualifies and you qualify to file according to income guidelines, then you could be eligible to erase your debt through chapter 7 bankruptcy. In scenarios where you have assets that are not exempt, such as 2nd homes, boats, and other luxury assets, then the trustee assigned to your case would sell these assets in order to pay as many of your debts as could be paid by these asset sales. Following the completion of this process, you no longer have a legal obligation for these debts and any remaining dischargeable debts are discharged. Then your fresh start begins and we can assist you in rebuilding your credit.

Will Bankruptcy Completely Delete Debts from my Credit Report?

While filing bankruptcy discharges the legal obligation which formerly existed for debts, it does not erase the record from your credit report. These debts will remain on the report, but with notes that they have been discharged through a bankruptcy. Later, once the specific amount of time has passed, which is typically 7 years, there will be no more mention of these debts. The credit report can also continue showing your chapter 7 bankruptcy for 10 years, however, with appropriate steps taken after completing the case, you will be able to rebuild your credit and get back on top again.

Attorney advertising.  We are a Debt Relief Agency that assists people to file for Bankruptcy under the Bankruptcy Code.

Frequently Asked Questions about Bankruptcy

For those who are drowning in debt, Ch 7 bankruptcy could be the right decision. Our law firm has prepared an FAQ section which can help with making informed decisions regarding whether and how you can proceed with filing with bankruptcy attorneys near me.

We realize that this is an extremely stressful time. However, your relief can often come in the form of information that empowers you and helps stop you from stressing over things that will not hurt you. If you have answers to your questions about debt, then you may be able just ask these questions in your initial free bankruptcy consultation and alleviate the stress.

Should I Use Debt Management Instead of Bankruptcy?

There is a time and a place for a small select group of these debt relief companies, but they are generally structured to benefit the company more than you. So the answer is that debt relief companies rarely offer anything that can come close to the powerful option of bankruptcy. Sometimes these companies will mess your credit up beyond anything that a bankruptcy would do on your credit. Not only that, but you will be paying a hefty sum on a monthly basis, ranging from $250-$1000/month just in their fees so that you are throwing money down the drain that you could at least be putting toward your debts if you weren’t using them. On the other hand, if you are in the process of searching for a bankruptcy lawyer near me, then you will learn that you could skip this entire process if you qualify to use a chapter 7 bankruptcy attorney.

The other thing that these debt management groups do not tell you in many cases is that they simply do not have any legal strength to shield your family from legal consequences that result from not paying debts. And although they claim to have developed relationships with creditors, it is rarely a reality and the fees often continue to accrue in the absence of a more powerful result such as bankruptcy or true debt negotiation.

What Debts Does Chapter 7 Bankruptcy Eliminate?

Chapter 7 cases do not discharge all debts, and specifically excluded from your case will be debts such as child support, alimony, some IRS debt, some other taxes, student loan debt, and all debts which have been categorized as fraudulent debts.

Additionally, we strongly advise that you provide us with a complete list of your debts wherever possible so that the process is more clean, because they can fight you regarding discharge if they never received notice of your bankruptcy by being included in the petition.

Additionally, you cannot discharge certain types of debts that fall into the categories of penalties and fines, or criminal acts such as costs for injuries which were caused to another person where you had been driving under the influence illegally or intoxicated.

Should I File for Bankruptcy?

One simple way to consider whether bankruptcy makes sense for you is to consider your debts and whether most could even be eliminated with a chapter 7. For example, if you determine $75,000 of your $80,000 in debt is for student loans which cannot be wiped out by bankruptcy, then it is probably not wise to file. Next, consider the assets which you own. If you have few assets, then chapter 7 BK could be much more beneficial than someone who has vast assets or has important assets that would be sold if they filed for bankruptcy. Additionally, if your disposable income is too high to allow you to file under a fresh start chapter 7 case, then you would be required to make a monthly trustee payment in chapter 13 bankruptcy to handle some, most, or even 100% of your debts.

Finally, before considering whether you think it would be advantageous to file a chapter 7, you should make certain you are even eligible to file. You could be ineligible to file a case for chapter 7 if you have:

  • Intentionally dismissed a Chapter 7 case within the past 180 days.
  • Received a discharge through chapter 7 bankruptcy within an 8 year period of time.
  • Received a discharge through chapter 13 bankruptcy within a 6 year period of time.
  • Enough income in your disposable income budget to pay a portion of your debts in a chapter 13 case. This is determined by a formula created using a means test in bankruptcy. If the court’s formula for answering the question “Do I qualify for Bankruptcy?” determines that the money left over every month after you pay a reasonable amount of living expenses for yourself and dependents.

Call our office if you don’t know whether you qualify. This is a complicated formula that involves a computer but many times our team can quickly get you an answer in a short phone consultation for bankruptcy that helps you learn your options within as few as 30 minutes. Our team will review your situation to help you discover what bankruptcy options you have available to you.

Should I Hire a Lawyer For Credit Card Debt?

Some people may wonder whether it is necessary to hire an attorney or simply file without an attorney. It is a fairly common question to wonder “Should I file bankruptcy without a lawyer?” Bankruptcy can be a highly complex legal matter, and if you have very little to lose in the way of assets, then a case can be made that “what do you have to lose?” But you could lose a lot if you have assets. An experienced bankruptcy lawyer will ensure you don’t ruin your bankruptcy, disqualify by omitted important steps, or even cause yourself serious harm by losing assets in bankruptcy. In fact, most pro se bankruptcy cases are ultimately dismissed by the Trustee who is officiating their bankruptcy case.

On the other hand, if you have been sued by a credit card company and are considering hiring an attorney, then an excellent bankruptcy law firm can usually assist you in making sure you get into the most appropriate type of debt relief and that you can live a debt free life moving forward.

Can I Be Fired for Filing Bankruptcy?

No, the short answer is a resounding NO! But speaking candidly and realistically, it needs to be said that some employers do illegal things all the time. And the main thing to consider here is that the employer is rarely if ever necessarily going to receive any kind of information or notification that you have filed for bankruptcy protection. But you still need to know that employers are specifically barred from doing this. It is a clear black and white violation.

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