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Filing Chapter 7 Bankruptcy


A Chapter 7 Bankruptcy is the most common and basic type of bankruptcy filing. This type of bankruptcy will usually wipe out the following types of debt:
  1. Credit Cards
  2. Signature Loans
  3. Loan Liners
  4. Medical Bills
  5. Old Automobile Repossessions
  6. Most Court Judgments
  7. Gambling Debts
  8. Certain IRS Debts

Chapter 7 bankruptcy allows you and your family to get a fresh start by getting rid of the debts listed above. At the same time allowing you to keep your home and other exempt assets.

The filing of a Chapter 7 bankruptcy will also bring an immediate stop to:

  1. Lawsuits
  2. Wage Garnishments
  3. Court Hearings
  4. Creditor Harassment

This type of bankruptcy is a straight forward proceeding. The entire process will normally be concluded in four to six months. It usually only involves one short court hearing, for which the attorney will be present with you.