Bankruptcy Can Be Daunting - Call Me

When the economy crashes, whether for a virus or economic circumstances bad things can happen to good hard working people. Chapter 7 bankruptcy, if you qualify, can get you relief and stop things such as: wage garnsishments, collections and harassing phone calls. When finished, you will wipe out all debt including credit cards, auto loans, judgments and mortgages if you choose to do so. You will be able to keep all of your property. If you have a car loan, you may keep the car and resign the loan.

How Chapter 7 works

A chapter 7 case begins with the debtor filing a petition with the bankruptcy court serving the area where the individual lives or where the business debtor is organized or has its principal place of business or principal assets. (3) In addition to the petition, the debtor must also file with the court: (1) schedules of assets and liabilities; (2) a schedule of current income and expenditures; (3) a statement of financial affairs; and (4) a schedule of executory contracts and unexpired leases. Fed. R. Bankr. P. 1007(b). Debtors must also provide the assigned case trustee with a copy of the tax return or transcripts for the most recent tax year as well as tax returns filed during the case (including tax returns for prior years that had not been filed when the case began). 11 U.S.C. § 521. A husband and wife may file a joint petition or individual petitions. 11 U.S.C. § 302(a). Even if filing jointly, a husband and wife are subject to all the document filing requirements of individual debtors.

Contact My Office For A Free Consultation

Call me at (330) 296-5252 or contact my office by email to arrange an opportunity to discuss your family law matter at no initial fee.