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CHAPTER 7
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Chapter 7 is designed for debtors who are having financial difficulty and who do not have the ability to pay their existing debts. The purpose of filing a Chapter 7 case is to obtain a discharge of the debtor's existing debts.
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 | The debtor must complete a pre-filing credit counseling session with a court approved credit counseling provider prior to filing bankruptcy. Also, the debtor must attend a 341 meeting of creditors, which is held approximately 40 days after the Chapter 7 bankruptcy petition is filed. Your attendance is mandatory and the attorney will accompany you to the meeting. Creditors rarely attend the meeting, but some creditors do. | | | The debtor must complete a course in personal financial management before a discharge will be granted. The Order of Discharge is normally entered about 110 days after the Chapter 7 case is filed. The Order provides that all of your eligible debt is discharged and prevents creditors whose debt is discharged from attempting to collect the debt from you. Certain debts are not dischargeable under law. Therefore, you may still be responsible for such debts as certain taxes, student loans, alimony and support payments, criminal restitution, and debts for death or personal injury caused by driving while intoxicated from alcohol or drugs.
| | | A Chapter 7 bankruptcy can stay on your credit for 10 years. However, there is life after bankruptcy. After your discharge, new automobile financing is available at most new car dealerships provided income and employment conditions are met. Also, if certain conditions are met, new mortgage financing is usually available 2 to 4 years after discharge. TO GET STARTED TODAY, E-MAIL US BY CLICKING ON THE E-MAIL LINK BELOW OR CALL US TODAY TODAY FOR A FREE PHONE CONSULTATION. WE ALSO OFFER SERVICES SUCH AS DIVORCE, NAME CHANGES AND PERSONAL INJURY CASES.
LIBERTY LAW GROUP/THE TILLMAN LAW FIRM VIRGINIA: One Columbus Center, Suite 600, Virginia Beach, VA 23462 - Phone (757) 333-0599> NORTHERN VIRGINA: (703) 873-7913
TEXAS: 16422 Stuebner Airline, Spring, TX 77379 - Phone (281) 882-3928 Fax: (866) 562-8290 E-Mail: LibertyLawGroup@gmail.com
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