The most common benefit of a Chapter 7 Bankruptcy is the speed in which you can achieve a fresh start. There are no payments to your creditors.[…]
Chapter 7 is a form of bankruptcy that allows you to liquidate your unsecured debt. Common examples of unsecured debts are credit cards, medical bills, payday loans, signature loans, repossession deficiencies, and judgments. If you stop paying unsecured debt there is not any property that the creditor can take from you because there is no collateral.
It is very common for people to get in over their head with credit card debt while shifting balances from one card to another. You’ve probably experienced it yourself. The lure is enticing with zero percent interest and free money. You would file Chapter 7 after you have exhausted all of your non bankruptcy options. However, it is all too common for people to make minimum payments for years, and attempt to work with their creditors, just to find themselves no worse off than when they started. Therefore, Chapter 7 Bankruptcy is a responsible way for you to reorganize your finances, liquidate your debt, and achieve the fresh start you deserve. If this sounds like something you are interested in, please complete our online evaluation form and set a free consultation with Allmand & Lee today. We are the largest volume filers in Dallas and Tarrant County and dedicate ourselves to solely filing bankruptcy cases, and would be happy to assist you on your journey to financial freedom.
.: Chapter 7 Resources :.
What are the Benefits of Chapter 7 Bankruptcy?
Who Can File for Chapter 7 Bankruptcy?
Individual consumers are eligible to file a Chapter 7 Bankruptcy provided they meet certain criteria. […]
How Long Does a Chapter 7 Bankruptcy Last?
Can I keep my property in Chapter 7 Bankruptcy?
One of the biggest myths about Chapter 7 bankruptcy is that you are going to lose all of your property. In reality Texas is one of the friendliest states, allowing you to keep all of your property. […]
How much does it cost to file a Chapter 7 Bankruptcy?
We at Allmand and Lee are sensitive to our client’s situation and understand if they had excess funds, they probably would not be calling us for help. Therefore, with that understanding, we will work with any budget. […]
How does Chapter 7 Bankruptcy affect my credit?
Many Debtors are surprised when they learn it is possible to actually have a higher credit score within one year after completion of a Chapter 7 bankruptcy than if they had not filed. […]
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