Bankruptcy Lawyers
365
Days of the Year We're Available
28,000+
Cases Handled
100+
Combined Years of Experience
Our Attorneys can Help You Get Out of Debt and Start Fresh
No one wants to have to file for bankruptcy relief. But, if you are struggling with debts that are growing out of control, it can feel like there is no other way out. Many people see bankruptcy as a last resort. However, it may actually be the best option for many people facing debts they can’t pay. This is especially true if you are facing a garnishment, repossession, or any other difficulties.
The best thing a bankruptcy can do is stop the harassing phone calls from a collection agency. Using a qualified bankruptcy lawyer will help put a stop to collection efforts.
Liquidation bankruptcy
Chapter 7 Bankruptcy
Chapter 7 bankruptcy is a “liquidation” bankruptcy. The goal of a Chapter 7 bankruptcy is to help debtors legally discharge the debts they cannot pay. The discharge means that there is no legal obligation to pay back those debts. This gives a financial fresh start to those hit by a job loss, divorce, or another emergency. Unlike a Chapter 13 bankruptcy, a Chapter 7 does not require a debtor to make payments to the creditors. Instead, a non-exempt property is taken to pay off the debts. However, in most cases, all the property of a debtor is exempt from being taken.
Many debtors may be eligible to file a fresh start bankruptcy under Chapter 7 of the Bankruptcy Code. Chapter 7 bankruptcy is more often known as a “fresh start” bankruptcy. This is because you complete a Chapter 7 bankruptcy in a short period of time. The trustee uses the non-exempt assets of a debtor to pay off the creditors. However, in most cases, debtors will not have any non-exempt assets to turn over to the trustee. Meaning, most people who file for bankruptcy do not lose any property. This is why it is important to hire a qualified bankruptcy attorney to protect your property.
Filing a Chapter 7 bankruptcy with an experienced and qualified bankruptcy attorney can help you to finally, legally, tackle your debt problem. Our attorneys can help you get out from under credit card bills, medical bills, certain tax obligations, and many other debts. Chapter 7 can help with more immediate issues as well. You can use it to stop a foreclosure sale, stop garnishments, and most importantly, stop the harassing phone calls.
Interesting Facts About Chapter 7 Bankruptcy
- In practice, liquidation almost never happens—more than nine out of ten consumer cases are tagged “no‑asset,” meaning every item the debtor owns is exempt and nothing is sold.
- Roughly 70 % of personal bankruptcies follow the Chapter 7 route, with most of the balance filed under Chapter 13 repayment plans.
- Filing isn’t free: the court charges $338, and you must finish a DOJ‑approved credit‑counseling course within the 180 days before filing and file the completion certificate.
- Some debts survive no matter what—child support, alimony, many student loans, recent tax bills, criminal fines, and drunk‑driving injury claims generally cannot be discharged.
Liquidation bankruptcy
Chapter 7 Bankruptcy
Chapter 7 bankruptcy is a “liquidation” bankruptcy. The goal of a Chapter 7 bankruptcy is to help debtors legally discharge the debts they cannot pay. The discharge means that there is no legal obligation to pay back those debts. This gives a financial fresh start to those hit by a job loss, divorce, or another emergency. Unlike a Chapter 13 bankruptcy, a Chapter 7 does not require a debtor to make payments to the creditors. Instead, a non-exempt property is taken to pay off the debts. However, in most cases, all the property of a debtor is exempt from being taken.
Many debtors may be eligible to file a fresh start bankruptcy under Chapter 7 of the Bankruptcy Code. Chapter 7 bankruptcy is more often known as a “fresh start” bankruptcy. This is because you complete a Chapter 7 bankruptcy in a short period of time. The trustee uses the non-exempt assets of a debtor to pay off the creditors. However, in most cases, debtors will not have any non-exempt assets to turn over to the trustee. Meaning, most people who file for bankruptcy do not lose any property. This is why it is important to hire a qualified bankruptcy attorney to protect your property.
Filing a Chapter 7 bankruptcy with an experienced and qualified bankruptcy attorney can help you to finally, legally, tackle your debt problem. Our attorneys can help you get out from under credit card bills, medical bills, certain tax obligations, and many other debts. Chapter 7 can help with more immediate issues as well. You can use it to stop a foreclosure sale, stop garnishments, and most importantly, stop the harassing phone calls.
Interesting Facts About Chapter 7 Bankruptcy
- In practice, liquidation almost never happens—more than nine out of ten consumer cases are tagged “no‑asset,” meaning every item the debtor owns is exempt and nothing is sold.
- Roughly 70 % of personal bankruptcies follow the Chapter 7 route, with most of the balance filed under Chapter 13 repayment plans.
- Filing isn’t free: the court charges $338, and you must finish a DOJ‑approved credit‑counseling course within the 180 days before filing and file the completion certificate.
- Some debts survive no matter what—child support, alimony, many student loans, recent tax bills, criminal fines, and drunk‑driving injury claims generally cannot be discharged.
