Chapter 7 Bankruptcy

Chapter 7 Bankruptcy gives people a fresh start.  Most debts are dischargeable in a Chapter 7, which means that they do not need to be paid back.  Chapter 7 can eliminate:  credit card bills, medical bills, car repossession deficiencies, and personal loans.  You can even qualify for a Chapter 7 bankruptcy if you own real estate, cars, or other types of personal property.  In many instances you can file a Chapter 7 and keep your home, car, or other assets.M.C. Law

Chapter 7 Frequently Asked Questions

What is Chapter 7 bankruptcy? 
Chapter 7 is an elimination of your debts.

How long does it take?
The Chapter 7 bankruptcy process takes approximately 3-4 months.

Can I file without my spouse?
Yes.

Can creditors still come after me?
No.  The bankruptcy filing stops creditors from contacting you or pursuing your assets without first petitioning the court.

Can I keep my car?
In the majority of cases we have filed, our clients have been able to retain their automobiles. If for some reason you do not wish to keep your car, you may voluntarily surrender it to the finance company. Any debt owed after the surrendering of the vehicle is eliminated.

Can I keep my home?
In the majority of cases we have filed, our clients have been able to retain their house. If for some reason you do not wish to keep your house, you may voluntarily surrender it to the mortgage company. Any debt owed after the surrendering of the house is eliminated.

What is a reaffirmation agreement?
A reaffirmation is an agreement between you and your creditor in which you keep the collateral and continue to pay on the debt.

Will Chapter 7 stop a lawsuit or garnishment?
Yes. If a lawsuit has been filed, we will contact the opposing attorney and the case will be dismissed. If your wages are being garnished, we will contact your employer on the day we file your case to stop the garnishment.

Do I have to go to court?
You will need to attend one meeting with a Trustee to review your bankruptcy petition.

What kind of debt does Chapter 7 eliminate?
Chapter 7 can even eliminate some past due taxes. Among other things, Chapter 7 can eliminate credit card debt, medical bills, car repossession deficiencies, foreclosure deficiencies, personal loans, and secured debt where you wish to surrender the collateral.