Chapter 7 Bankruptcy2020-07-02T16:22:46+00:00

Chapter 7 Bankruptcy

The simplest and fastest form of Bankruptcy, Chapter 7, is ideal for people who do not have non-exempt assets and whose income and expenses do not provide for much excess income.  It is also ideal when an individual is burdened with unmanageable debt from a business failure.

A Chapter 7 bankruptcy is usually completed in about six months and does not normally require the person filing to make any creditor or trustee payments.  Additionally, most people who file a Chapter 7 bankruptcy do not have to appear before a Bankruptcy Judge or attend any formal hearings.  They are required to attend the Trustee’s meeting of creditors, but this is usually a short informal meeting where routine questions are asked and where I am present to assist the client. 

It is important that a person who is thinking about filing a Chapter 7 bankruptcy consults an attorney before filing. While there are books and online resources that claim that a person can represent themselves in a Chapter 7 bankruptcy filing, I do not recommend it. An improper filing, or a filing that fails to claim proper exemptions, can result in the unnecessary loss of property.  Additionally, unlike a Chapter 13 bankruptcy, once filed, a Chapter 7 cannot be voluntarily dismissed by the filer.  If you are thinking about filing a Chapter 7 bankruptcy, I encourage you to contact me for a free 30-minute consultation today.  

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