Chapter 7 – Liquidations

The purpose of a Chapter 7 bankruptcy is to allow a person to obtain a fresh start, free from creditors and free from the pressures of over-whelming debt. After filing for relief, an individual debtor may receive a discharge of debts.

A discharge permanently prohibits creditors from attempting to collect those debts listed by the debtor on the bankruptcy schedules. However, some debts are non-dischargeable. They include certain taxes, student loans, alimony, and child support to name just a few.

You are allowed to keep any assets (example mortgages, car payments) you choose as long as you can continue to make regular monthly payments.

Bankruptcy court filing fee: $299.00 (price subject to change)

Additional Information on Chapter 7 Bankruptcy

For a free bankruptcy consultation, call (517) 347-6700