Jackson Chapter 7 Bankruptcy
Considering bankruptcy? Turn to Chapter 7
Everyone falls behind in their bills occasionally. But if you are facing a mountain of debt with no idea how to conquer it, it may be time to consider filing for Chapter 7 bankruptcy.
If you are facing personal bankruptcy the experienced Jackson bankruptcy attorneys of Pond, Gadow & Tyler can help determine whether Chapter 7 or Chapter 13 bankruptcy is right for you.
Move forward with a clean slate
Often referred to as straight bankruptcy, involves the elimination—or discharge—of most debts. Chapter 7 is usually most helpful in discharging unsecured debt such as:
- Credit card debt
- Medical bills
- Deficiency balances due to auto repossession
A bankruptcy trustee converts all of your non-exempt property into cash and distributes it to your creditors. Typically, within four months you receive a discharge of all eligible debts.
Chapter 7 bankruptcy is an excellent option for anyone who has few assets but a mountain of debt. It enables you to make a fresh start relatively quickly.
Non-dischargeable debts under Chapter 7 bankruptcy may include:
- Taxes and tax liens
- Student loans
- Alimony and child support (domestic support obligations)
- Debts obtained through fraud, false pretenses, or false representation
- Debts you failed to schedule in time to allow creditors to file proofs of claim (unscheduled debts)
- Debts for fraud while you were acting in a fiduciary capacity, or for embezzlement or larceny
- Debts for willful and malicious injury
- Debts for fines or penalties to governmental units
- Debts for judgments in wrongful death or personal injury lawsuits resulting from motor vehicle, vessel, or aircraft accidents while you were intoxicated
- Condominium or cooperative association fees or assessments
Let our chapter 7 bankruptcy attorneys fight on your account
If you are considering filing for Chapter 7 bankruptcy in Jackson, the experienced bankruptcy lawyers at Pond, Gadow & Tyler walk you through the process and help you make the right choices for your financial future. Contact us for your free initial consultation today.
