What is Chapter 7 bankruptcy?
Chapter 7 bankruptcy can be a viable debt relief method for individuals who qualify in a certain income bracket and who are struggling financially. The attorneys at The Law Offices of Arnove & Wiley can help you determine if you are eligible for Chapter 7 relief. For individuals with qualifying incomes and few valuable assets, Chapter 7 bankruptcy is usually the most effective method for erasing debts and regaining financial stability. A person who files for Chapter 7 will have many or all of their debts canceled by a bankruptcy trustee, in a relatively short period of time.
Chapter 7 bankruptcy is sometimes called liquidation bankruptcy or “straight” bankruptcy. In Chapter 7, in exchange for the cancellation of most debts, a bankruptcy trustee will liquidate or sell certain assets and distribute the proceeds to creditors. In many cases, however, with the help of an experienced Plano and Greater Dallas bankruptcy attorney, most, if not all, of the assets can be protected through “exemption” of those assets. Unprotected assets, if any, may be sold by the bankruptcy trustee without any effort from the person filing for Chapter 7 bankruptcy. With the Law Offices of Arnove & Wiley, a Plano & Greater Dallas bankruptcy attorney is available to provide you with complete information regarding the Chapter 7 process, and can review your financial situation with you to determine if it is the correct option for you.
PLANO Dallas Lawyer for Chapter 7 Bankruptcy
The attorneys at the Law Offices of Arnove & Wiley are experienced bankruptcy lawyers available to assist clients get bankruptcy relief throughout Plano, Collin County and the greater Dallas-Fort Worth area. We are intimately familiar with every aspect of the bankruptcy process, and can guide individuals through Chapter 7, Chapter 11, or Chapter 13 filings. Contact our offices if you are considering filing for Chapter 7 bankruptcy relief, and we will provide you with high quality, caring, and personalized legal service that is intended to assist you in obtaining the fresh start and renewed financial stability you deserve.
If you are considering bankruptcy and believe that Chapter 7 may be the correct option for you, contact an experienced Dallas Chapter 7 bankruptcy lawyer for experienced guidance in your case.