DISCLAIMER

The information contained on this page is for information, only. It is not intended to be legal advice, nor should you make legal decisions based on this information. Please consult an attorney to see how the law applies to your particular situation.

A chapter 7 is also known as the "fresh start" provision of the bankruptcy code.  It allows you to wipe out all of your debt and get a fresh start. In a chapter 7 we show the Court that you are unable, based upon your budget, to pay the debt that currently hangs over you. Approximately 90 days after we file your chapter 7, you are granted a discharge and you no longer owe the debt.

Now, while a chapter 7 is as simple in theory as described above there are a number of factors to consider. For example, not every kind of debt can be discharged in a 7. Debts arising from drunk driving or intentional acts may not be dischargeable. Tax debts less than 3 years old cannot be discharged.

Also, if you have secured debt (debt tied to collateral like a car note or a mortgage) you have to decide if you wish to keep the property. If so, you must reaffirm the debt which means you must continue to pay the debt if you want to keep the collateral.

These are complex questions and you should discuss them with me.  It does not cost you to come into my office and let me examine your situation.  I hope you will call today.