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Houston Chapter 7 Bankruptcy LawyersTexas Chapter 7 Bankruptcy AttorneysChapter 7 Bankruptcy is a process known to give you a financial fresh start, freeing you from overwhelming debt burdens. A Chapter 7 bankruptcy is also commonly known as “liquidation" or "straight bankruptcy." There are several types of bankruptcy, but Chapter 7 is usually the simplest and most preferable bankruptcy option for qualifying individuals. A Chapter 7 Bankruptcy proceeding may be filed individually, or jointly as husband and wife. In certain circumstances, a small business or corporation may be eligible for liquidation under Chapter 7. In recent years the economy has taken a large hit and has affected the finances of many. Chapter 7 is an option that many people in financial troubles are aware of but do not realize is available to them. A Law Firm with Bankruptcy ExperienceAt the Thompson Law Firm, we pride ourselves in successfully representing clients filing for bankruptcy. We are well aware how creditors, lenders, and bill collectors work during this process. Often times, they may overstep their boundaries when trying to collect payments from you. If you have been considering filing Chapter 7, call 281-893-8841 to schedule an appointment to meet with an experienced bankruptcy lawyer. What debt is eligible for Chapter 7 Bankruptcy?Below you can find a list of typical debts that can be eliminated or relieved using Chapter 7.
What Debt is not eligible for Chapter 7 Bankruptcy?Contrary to popular belief, not all debt is eligible for elimination (discharge) when filing for Chapter 7. Below is the list typical debts that may not be eligible for discharge in a Chapter 7 proceeding;
How do I know if I am eligible to file for a Chapter 7 Bankruptcy?If your debt exceeds your income or ability to pay, you may be eligible for bankruptcy relief. However, the Chapter 7 option is not available in every bankruptcy situation. Moreover, Chapter 7 may not be the best or most attractive option for your particular case. The Bankruptcy Code imposes a financial means test formula, together with other criteria for purposes of establishing eligibility for persons or entities contemplating bankruptcy. Quite often, persons who would not be eligible for bankruptcy under Chapter 7 might be eligible for bankruptcy under another chapter, most typically Chapter 13. The attorneys with the Thompson Law Firm have over 20 years of experience successfully representing numerous clients in bankruptcy proceedings. The attorneys with the Thompson Law Firm can analyze your personal and financial circumstances and help you decide whether a Chapter 7, Chapter 13 or some alternative non-bankruptcy option is the best option for you. If you would like to make an appointment to speak with an experienced Bankruptcy attorney, please contact us online or call today at 281-893-8841 to schedule your appointment Also, please refer to our FAQ section in this website for more information regarding office conferences with the Thompson Law Firm. Let us put our years of experience to work for you. |