Contacting a Chapter 7 Bankruptcy Attorney in Plano If you find yourself in a seemingly inescapable financial crunch, it may be time to go over your options with a legal professional. Our legal firm, Warren & Migliaccio, L.L.P., has helped individuals with their Chapter 7 bankruptcies and w...
Chapter 13bankruptcy allows you to retain your assets, but you must agree to a plan to repay your debts over a period of three to five years. The trustee collects your payments and distributes them to your creditors. Chapter 13 bankruptcy is normally chosen by people who want to keep their...
After a Chapter 7 discharge, you are no longer obligated to pay back any discharged debts. However, this does not preclude you from voluntarily paying off your debts after the bankruptcy. If you want to protect your cosigners and guarantors, you can continue paying the debt until it's paid...
For example, you may only receive a Chapter 7 bankruptcy discharge: Once every eight years, or Six years after a Chapter 13 bankruptcy filing If you find yourself facing an even more serious financial problem during these waiting periods (such as unemployment, an eviction, foreclosure, or car ...
By a large margin, Chapter 7 bankruptcy is the most common type. The entire process is generally quicker, easier and cheaper. It’s possible to get your qualifying debts discharged within six months. Also known as a liquidation bankruptcy, under Chapter 7, a court trustee determines whether yo...
Chapter 7 Bankruptcy: Also known as liquidation bankruptcy, Chapter 7 bankruptcy involves the liquidation of non-exempt assets to repay creditors. It is designed for individuals with limited income or resources who are unable to repay their debts. In Chapter 7 bankruptcy, a court-appointed trustee...
Chapter 7 is not only the most common individual bankruptcy filing, but also one of the easiest and fastest to accomplish. It is often used to clear medical or credit card debts. Termed “liquidation bankruptcy,” a Chapter 7 bankruptcy involves selling all assets owned by the debtor that are...
Chapter 7 versus Chapter 13 It costs about $1,500 to file Chapter 7, and most attorneys require that their fees be paid upfront. Chapter 7 is a liquidation bankruptcy, where one's nonexempt property and assets — possessions not protected by bankruptcy — are turned over to a trustee, an...
Chapter 7 Bankruptcy If you filed a previous Chapter 7 Bankruptcy, you likely did so because you could protect all of your assets from being used to pay unsecured creditors. This is because a Chapter 7 case involves a liquidation, at least theoretically, of your non-exempt assets. ...
If you have decided to file bankruptcy, you may believe that you can save money by handling the matter yourself. Don’t make this common mistake! Personal bankruptcy proceedings are often complex. Because you haven’t done this before, it will be all too easy to make mistakes that waste ...