A Chapter 7 Bankruptcy allows a debtor, who is unable to get out of financial troubles by filing for bankruptcy. In various cases, you may be allowed to keep all of your property and discharge all of your debts through a Chapter 7 bankruptcy.
However, in some cases you may have to divide your assets, if they are not exempt.
Bankruptcy is a Federal right and is actually a program that has been implemented by the Federal Government to assist consumers in getting out of debt. Under Federal Law, filing for bankruptcy is within your constitutional legal rights, Since Bankruptcy is a Federal right, individually States may not regulate bankruptcy and therefore you are given the opportunity to file for bankruptcy to obtain a fresh start to a brighter future.
A filling under Chapter 7 bankruptcy which is also known as liquidation, will usually allow a debtor to discharge all their debt. As the debtor, you are allowed to select which assets you to choose to keep, such as your house, vehicles, credit cards and other various properties, as long as the properties meet the exemptions allowed by the Federal Bankruptcy Code. Chapter 7 is the most common type of bankruptcy proceeding.
Each case is different and assumptions should not be made regarding which bankruptcy chapter is right for you. Determination of person qualifying for a Chapter 7 bankruptcy can only be determined through a consultation. Please feel free to contact us for a no obligation and free informative consultation.
RESTORE PEACE OF MIND
WIPE OUT DEBT
STOP Repossessions
KEEP your possessions
KEEP your home
STOP Wage Garnishing
STOP Harassment
STOP Foreclosures
STOP Lawsuits
We are conveniently at 2215 N. Fresno in Fresno (between Clinton Ave & McKinley Ave) (Across from the VA Hospital)