This is the simplest and most common type of bankruptcy. Our office will ask you some simple questions and determine whether you are eligible.
If you are eligible, this chapter of bankruptcy will give you a fresh start within a few short months. You will often discharge all of your debt with no payments to creditors.
In many cases:
You CAN keep your house.
You CAN keep your car.
You CAN keep your retirement accounts.
There are some types of debt which are non-dischargeable, but most people begin with a clean slate and a better tomorrow. Certain debts like RECENT taxes or student loans will survive.
Some people believe taxes are non-dischargeable in bankruptcy – NOT TRUE.
Some taxes, if they meet the guidelines, ARE dischargeable. If you have taxes more than three years old, we can work with you to find out if they too can be discharged.
The most common problem people face with a Chapter 7 is the unknown. Once they learn exactly how bankruptcy works they often decide it’s exactly the relief they need.
Chapter Seven Bankruptcy Information
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