Chapter 7 Bankruptcy Attorney in Houston
Advantages of Chapter 7 Bankruptcy
Why is Chapter 7 the most popular type of bankruptcy filed in the U.S.? There are various advantages associated with filing for bankruptcy under Chapter 7 of the Bankruptcy Code. Understanding these and what benefits you may experience personally are important issues to consider if you are thinking about filing for bankruptcy. With the right information, you can make the most advantageous choice for you now and into the future.
That is why we recommend that you talk to a Houston bankruptcy lawyer at our law offices to find out more about what advantages you may be able to experience in filing under Chapter 7. We can offer you clear information based upon your unique financial situation. Some of the particular advantages that you may experience include the following:
- You may be able to have your debt eliminated within 4 to 6 months
- Once you file, all debt collection efforts against you must cease, including wage garnishment and any pending lawsuits
- Any amount of debt can be completely cleared through Chapter 7
- There is no minimum amount of debt to file
- Once you successfully complete your case, you will have no further obligation to pay the debt you have discharged
Houston Bankruptcy Lawyer
With the advantages of Chapter 7, there are also some potential complexities that you should consider. Some types of debt (student loans, certain taxes, etc.) cannot be discharged. It is also important to find out what impact this type of bankruptcy may have on your property, as certain property and assets will be in danger under a Chapter 7 filing.
By helping you properly file your bankruptcy petition and all relevant financial information, a competent lawyer can help you experience all of the advantages associated with Chapter 7 bankruptcy. To learn more about how we can assist you in this, contact a Houston Bankruptcy Lawyer at the Malaise Law Firm today.