Wichita Chapter 7 Attorney
Discharge Your Debts with Chapter 7 Bankruptcy
If creditors are engaging in foreclosure on your house, wage garnishment or seizure of your bank accounts, it is time to consider bankruptcy. Once a bankruptcy petition is filed, all creditor action against you must stop. Under Chapter 7, your non-exempt debts may be discharged.
What Is Chapter 7 Bankruptcy?
Chapter 7, often referred to as “straight bankruptcy” is the most common type of bankruptcy filed by individual debtors in the U.S. Though it involves the liquidation of property to pay off creditors, much of a debtor’s property and assets may be protected by state or federal bankruptcy exemptions. Most debtors lose little to no property when they file Chapter 7. Before filing, turn to an experienced bankruptcy lawyer in Wichita at Kansas Bankruptcy Center. Attorney Douglas has many years of experience and is prepared to guide you to debt relief.
- Related: Why Hire a Bankruptcy Attorney?
What Does a Chapter 7 Bankruptcy Discharge Mean?
A Chapter 7 discharge means that as a debtor, you will be released from personal liability for most of your debt. It also means that creditors who are owed debt are no longer allowed to take any collections against you. Generally, most debtors will receive a discharge but there are some exceptions, such as if a party in interest files a complaint and objects to the discharge. Otherwise, debt may be discharged 60 - 90 days after the meeting of creditors.
- Related: Benefits of Bankruptcy
How to Qualify for Chapter 7
If you are burdened by debt that you cannot reasonably pay, Chapter 7 may be suited for you.
To qualify, you must:
- Be an individual, a married couple, or small business owner.
- You must not have a prior bankruptcy case that was dismissed 180 days ago.
- If you filed Chapter 7 previously and got a discharge, you must wait 8 years to file again.
- If you filed Chapter 13 previously and got a discharge, you must wait 6 years to file Chapter 7.
- Within 180 days of filing your petition, you must complete an approved credit counseling course (available online or via phone).
- Pass the means test.
If you are fighting against severe debt, filing for Chapter 7 may be an option for you. Turn to an experienced attorney in Kansas for guidance. At Kansas Bankruptcy Center, we can take a look at your circumstances and help determine if this route is right for you.
Is Chapter 7 Bankruptcy Right for You?
Consider if your debts can be discharged in bankruptcy. Credit card debt and most unsecured debts may easily be discharged, but student loans, child support, and maintenance may not be. If the bulk of your debt can be discharged, Chapter 7 will be helpful; otherwise, another Chapter 13 might be better.
If you have a car that you are making payments on, you may still keep the car by continuing the payments. The same is true of a house that is being foreclosed on. If you can make the house payments, you may keep the house. Perhaps by dispensing with other obligations, Chapter 7 will enable you to make the house payments that previously were too much.
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Our Chapter 7 bankruptcy lawyer is ready to guide you to a fresh start! Call F:P:Sub:Phone} for a free consultation.
The Chapter 7 Bankruptcy Process
Although the filing procedure itself may vary depending on your case, below if a run-down of what a basic Chapter 7 process might look like. To get a better understanding of how this process would work for you, reach out to a Chapter 7 lawyer in Wichita at Kansas Bankruptcy Center -- your initial consultation is free of charge!
What Happens When I File for Chapter 7?
- The debtor files a Chapter 7 bankruptcy petition. This places an “automatic stay” or temporary halt on all collection activity, including contact by creditors, collection lawsuits, wage garnishment, repossession, and even foreclosure. Within 15 days of filing your petition, you will also need to file all pertinent financial information regarding your debt, assets, and property with the court.
- After your petition has been filed, you will receive a notice from the court regarding the date of your hearing.
- Approximately 30 to 45 days after you filed your petition, you will need to attend a bankruptcy court hearing. This hearing is held so the bankruptcy trustee handling your case can ask you specific questions under oath regarding your debt, assets, etc. Your attorney can prepare you for this hearing. During your hearing, you have the option to reaffirm the debt, which is to say you can agree to a repayment schedule with a specific creditor. This is an option some debtors choose so they can keep certain property, such as a car.
- The bankruptcy discharge in a Chapter 7 case will typically occur approximately two months after the date of your hearing. Once your debt is discharged, you will have no further obligation to pay it.
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You Don't have to Leave Home to File for Bankruptcy
At the Kansas Bankruptcy Center, we are one of the few law firms that is able to file your bankruptcy without you visiting our office. The only trip you will need to make is to the Meeting of Creditors one month after the filing. We have filed hundreds of petitions for people all over the state. Our Chapter 7 bankruptcy lawyer in Kansas understands that this is a stressful time for you, so we invite you to contact us. We will answer your questions and do all we can to help you through the process.
Call (316) 613-0952 to request a free case evaluation with a Wichita bankruptcy attorney at Kansas Bankruptcy Center for help with your financial matter.