Bankruptcy – Chapter 7

Chapter 7 Bankruptcy Attorney Birmingham, Alabama

“Will & Amy”

“Bankruptcy?  I don’t want to file bankruptcy”, Amy repeated.

Will and Amy sat on the floor surrounded by mounds of paper…all bills.  The kids were asleep, finally.  The phone had stopped ringing; after they unplugged it.

“I don’t want to file either, but…”, Will said.  He sat rubbing his forehead.  His head pounded.

Neither had expected this.  They were young, educated, hard-working and broke.  Amy’s job loss had hurt.  Will’s pay cut hurt worse.  The equity they thought they had in their house had evaporated.  Bill collectors called constantly.  Some were nice; most weren’t.

Talking to the mortgage company was like entering an insane asylum: on hold for hours, transferred to different departments, never talking to the same person twice, offers of hope from one person were denied by the next person they talked to.  Fees, fees and more fees; where did all the fees come from?

“What are we going to do?”, Amy asked.

Does this sound familiar?

Chapter 7 – Bankruptcy

Chapter 7 Bankruptcy is something few people like to think about, but if you are overwhelmed by debt, it may be the best option for you.  It can erase most of your debts and give you the fresh start you need .

Some debts that are NOT discharged (erased) in Chapter 7 are:  taxes, student loans, child support/alimony/marital debts and a few others.  Most common debts that are discharged: credit cards, automobile debts, mortgages, etc…

If you feel overwhelmed by debt and don’t think there is ever a way you will be able to “dig out”, then Chapter 7 Bankruptcy may be the option for you.

Contact me to schedule a free consultation to talk about your situation and options.

Chapter 7 FAQs:

Here are some frequently asked questions (FAQs) about Chapter 7 Bankruptcy:

1. Will filing Bankruptcy stop a garnishment? Yes.

2. Will it stop a foreclosure?  Yes, BUT, only for a short while.  If you’re interested in saving your home from foreclosure, Chapter 13 Debtor’s Court is an option.

3. Will it ruin my credit forever? No.

4. Do I have to got to court?  Yes, you will likely go to court, but usually only once…about 30 days after your case is filed.

5. Will I lose my house and car?  No, not necessarily; I can explain this in further detail, during an in-office, free consultation.

6.  What do I get to keep if I file Bankruptcy?  Most people who file bankruptcy do not have to give up any property.  After a review of your specific situation, I can explain to you what you can and can’t keep.

7.  How long will my case last?  Most bankruptcy cases last about 4 months.

Call me at 205-690-1542 to schedule a free consultation to discuss your situation and options.  It’s free and will give you the information and knowledge you need to determine whether bankruptcy is right for you.