Chapter 7 Bankruptcy - Overview

Chapter 7 bankruptcy is often referred to as a “fresh start” bankruptcy because it cancels most of your debt and the wages you earn after you file are yours to keep. However, there are many misconceptions regarding this type of bankruptcy. For example, many people do not realize:

• Chapter 7 bankruptcy is not available to everyone
• The bankruptcy court may sell some of your property for the benefit of your creditors and an experienced attorney can assist you in protecting your assets from being sold
• Chapter 7 bankruptcy will stop the harassing phone calls and garnishments immediately but it is not an effective tool for stopping foreclosures or repossessions

An experienced bankruptcy lawyer will help you understand the numerous rules of filing bankruptcy and, more importantly, how those rules impact your specific situation. In 2005, the laws regarding bankruptcy changed significantly. Make sure you work with a bankruptcy attorney that has a significant portion of his/her practice dedicated to bankruptcy law as this will help ensure the most current laws and processes are followed.

Learn more about Chapter 7 bankruptcy including:

• Who Can File
• Bankruptcy Form
• Bankruptcy Process

For a FREE consultation with a bankruptcy lawyer, contact attorney Jason Fauss online or call (314) 291-8899 to arrange a meeting to learn the bankruptcy options available to you.