Chapter 7: Quick simple fresh start
- Chapter 7 wipes out your debts
- It is the easiest and shortest bankruptcy
- Gives you a Fresh Start
- Quickly gives you room to breath
- Keep most assets.
- Stops foreclosure
- You must make less than your state's median income for a household of your family's size.
- If your income is too large then we complete a long-form Means Test and see if we can pull your income down in order for you to qualify. Him
- People that have too much equity in homes and cars may have to file a chapter 13 to save those assets.
- If it appears your assets are too inviting and we believe the Chapter 7 Trustee would sell a vehicle or home, we will put you in Chapter 13 where you get to keep all of the property on your state's list of exempt property.
- Your debt is eliminated except the debt you elect to keep
- Credit card balances - GONE
- Medical bills - GONE
- Personal loans - GONE
- Some taxes - GONE
- Repossessions - GONE
- Lawsuits - Gone
- Garnishments - GONE
- Generally, a Chapter 7 bankruptcy case takes about four months from start to finish.
Ready to Start
If you're considering filing for Chapter 7 bankruptcy in Missouri, contact the team at Adams Law Group.