Filing a Chapter 7 bankruptcy gives people a fresh start. It is a bankruptcy choice used to completely wipe out most debts in a legal proceeding conducted under the jurisdiction of the Federal U.S Bankruptcy Court. Chapter 7 discharge debts such as credit card debt, medical bills, personal loans, delinquent utility bills, old tax debt, and deficiencies on repossessed vehicles, and even parking violations. Under Chapter 7 bankruptcy, you will never have to pay your creditors for these types of debts.
Chapter 7 bankruptcy gives you a "fresh start" in a matter of months.
Choosing to file a Chapter 7 bankruptcy is not an easy decision and one that should not be taken lightly. However, it also provides the change to receive protection against creditor harassment and regain control of your financial life by starting anew. A typical case takes approximately 4 months from start to finish and after your case is closed, you can begin to rebuild your credit.
A Chapter 7 Bankruptcy will allow you to continue paying secured debt and keep the property.
A secured debt is one where the creditor has a lien or security interest in the property that was financed. Car loans and mortgages are the most common examples of secured debt. In most cases, you can reaffirm the debt and continue paying without losing the property.
Minimal Appearances in Court
Most people are intimidated by the thought of having to appear in court. In a Chapter 7 Bankruptcy, there is only one mandatory meeting called a "341 meeting" in front of your trustee and any creditors that show up for the meeting. No one will be allowed to harass or intimidate you and you will be treated with respect and dignity at all times. It's a quick meeting that usually last ten to fifteen minutes. Attorney Camille Sebreth will be with you at all times during this meeting representing your interests to the court.
A Chapter 7 Bankruptcy will excuse most of your debts
Most of your debts will be discharged in a Chapter 7 Bankruptcy, however, some debts are not dischargeable. The most common types of non-dischargeable debts are:
**This list is somewhat simplified, and we recommend that you consult with a bankruptcy attorney to fully evaluate your circumstances.
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