Chapter 7 Bankruptcy Information

Protect Your Finances and Future with a Chapter 7 Bankruptcy Filing

If your debts have become out of control, filing for bankruptcy may be the best option for your future. Call Wendy M. Mead, Attorney and allow Wendy's expertise to guide you thru a Chapter 7. We can help determine the best options for you so you can protect yourself from creditors taking your home, car, or more. Same-day appointments are available, and walk-ins are welcome.

We are a debt relief agency. We help people and businesses file for bankruptcy relief under the Bankruptcy Code. We provide personalized services to fit your needs. You will be meeting directly with a lawyer, not the support staff, in a relaxed and welcoming atmosphere. Enjoy FREE Wi-Fi and complimentary beverages in our office. Payment plans are available.

Chapter 7 Bankruptcy Info

Chapter 7 is designed as an orderly, court-supervised procedure by which a trustee collects the non-exempt assets of the debtor’s estate, reduces them to cash, and makes distributions to creditors, subject to the debtor’s right to retain certain exempt property and the rights of secured creditors. Because there is usually little or no non-exempt property in most Chapter 7 cases, there may not be an actual liquidation of the debtor’s assets. These cases are called “no-asset cases.” 

A creditor holding an unsecured claim will get a distribution from the bankruptcy estate only if the case is an asset case and the creditor files a proof of claim with the bankruptcy court. In most Chapter 7 cases, the debtor receives a discharge that releases the debtor from personal liability for certain dischargeable debts. The debtor normally receives a discharge three to four months after the petition is filed. 

To determine the possible availability of any assets, the trustee will review your schedules. They will also ask you questions under oath at a required meeting to ensure that you have accurately listed all of your assets and all of your liabilities. All debtors must attend this meeting, and they will be accompanied by their attorney.

Individuals, as well as corporations, may file a Chapter 7.