A Chapter 7 Bankruptcy is often called a straight bankruptcy, a liquidation bankruptcy or a discharge bankruptcy. Legally with this type of bankruptcy, the debtor does not have a payment plan for creditors. With some exceptions, debts are eliminated.
This type of bankruptcy is for people who have a great deal of credit problems, repossessions, foreclosures and certain judgments. Sometimes, tax debts may be discharged. Filing a Chapter 7 bankruptcy doesn’t mean that all debts listed in your case will be discharged. If you show an ability to continue making payments on certain assets such as a vehicle, chances are you may keep those assets.
A new beginning which allows you to start over and rebuild your good name and credit.
Protection from harassing collection calls, garnishment of wages, judgments through lawsuits, repossession and foreclosure.
Total liquidation of your debt within four to six months of your case filing.
In many cases, your credit can be rebuilt faster with a Chapter 7 Bankruptcy than allowing your current problems to continue.
You may keep all of your property — home, cars,
cash, retirement accounts, household items, furniture and more.
Why Choose Us
Work directly with a lawyer instead of a legal assistant.
We take the headache and hard work out of bankruptcy and foreclosure by being supportive, caring, and knowledgeable.
Personalized, friendly service.
Payment plans available.
Free case evaluation (attorney will spend time over the phone and give you detailed information relevant to your situation and determine if bankruptcy is a viable option for you and schedule a free in office consultation).
Over 30 years combined experience in helping individuals wipe out debt and get a fresh start.
Who Files for bankruptcy?
The average bankruptcy filer is age 38.
Couples filing jointly comprise 44% of all bankruptcy filings.
Of those filing bankruptcy alone, 30% are women and 26% are men.
Most bankruptcy filers are slightly better educated than the general population.
2 out of 3 Bankruptcy filers have lost their jobs.
50% of all bankruptcy filers have experienced serious health problems.
91% of bankruptcy filers have suffered a job loss, medical crisis or divorce.
40% of bankruptcies are a result of medical crises, unemployment or divorce.
90% of filers have two car payments, a house payment and an average of $2,500 in credit card debt.
10% of filers were delinquent only 5–29 days prior to bankruptcy.
For more information or a free initial consultation and evaluation, please call 214.688.1393 or 817.870.1960 or fill out the Case Evaluation Form, on the home or contact page, and one of our attorneys will contact you.