Begin Rebuilding Your Life With The Help Of A Bankruptcy Attorney
Filing Chapter 7 bankruptcy typically only takes about three to six months, meaning you can quickly achieve relief from crippling debt.
Exemptions Protect Your Property
While you may lose some property when you file Chapter 7, most state exemptions protect the property you need. Generally, bankruptcy trustees will focus on selling luxury possessions.
Prevent Aggressive Collections
Filing for bankruptcy can prevent lenders from hounding you for repayment of your loans. While it will not erase student loan debt, it can keep creditors at bay and allow you to begin rebuilding your life.
Eligibility For Chapter 7 Bankruptcy
Any individual, partnership, corporation or other business entity can find relief under Chapter 7 bankruptcy if you have:
Not Filed Recently
You cannot file for bankruptcy if your previous petition was dismissed in the last 180 days because you willfully failed to appear or comply, or voluntarily dismissed the case after creditors sought to recover property.
Received Credit Counseling
Within 180 days before filing, you must receive credit counseling from an approved agency. This counseling can take place on an individual or group basis but must occur before you are eligible to file.
What To Expect During Chapter 7 Bankruptcy
It starts simply. Just:
Schedule An Appointment
Your first step is to schedule a consultation with our team. Our bankruptcy attorneys, Dorothy Bartholomew and Jada Wood, can assist you every step of the way.
Assess Your Eligibility
Our team can evaluate your debt and your property exemptions to determine whether Chapter 7 bankruptcy is right for you.
Deal With Secured Debts
If you have secured debts where you pledged property as collateral for a loan, you will need to decide whether to pay the creditor the full value of the property, agree to continue paying per your contract or let the creditor take the property.
Go To Credit Counseling
You will typically need to attend a credit counseling course within 180 days of when you plan to file.
File Bankruptcy Forms
There are a few dozen pages of forms which need to be filed with the bankruptcy court to officially start your case. We can assist you with this process to ensure you have everything in order.
Submit To The Trustee
You will need to gather documents which prove your bankruptcy forms are accurate and forward them to the bankruptcy trustee tasked with handling your case.
Tie Up Loose Ends
You may need to file objections or motions as your case progresses to ensure all liens and claims against you are discharged properly before your case is closed.
Complete Debtor Education
Once your paperwork is filed you will need to complete a second class, called a debtor education course, before you can receive the discharge which wipes out your debts.
Receive Your Discharge
At the end of a successful bankruptcy, the court issues an order which erases all qualifying debt, meaning you no longer have a legal obligation to pay it.