Albany, GA 229.435.1611
Santa Rosa Beach, FL 850.267.2111
A Chapter 7 bankruptcy is designed to allow an individual to discharge (eliminate) unsecured debts while keeping certain assets which are exempt from creditors.
These exemptions include some or all of the equity in a home, a vehicle, personal property, tools of your trade, qualified retirement accounts and more.
Only non-exempt property, if any, can be utilized to satisfy the claims of unsecured creditors. If there is no non-exempt property, the case is called a "no-asset case," the unsecured creditors receive nothing, and the debts are discharged (forgiven).
The Chapter 7 process can usually be achieved in 4-6 months thereby allowing a fresh start without the burden of harassing phone calls from debt collectors, lawsuits, garnishments, levies or other creditor actions to collect a debt.
Many individuals or married couples choose to file a Chapter 7 Petition in order to restore financial sanity to their lives.
Chapter 7 is also available, with certain distinctions, to corporations, LLCs, farm entities, Trusts and others.
An experienced bankruptcy attorney with Zalkin Revell will be pleased to sit down with you, assess your personal situation, and advise you. We guide you through every step of the bankruptcy process with care and understanding.
Advertising Disclosure: The material on this website is for informational purposes only and does not create an attorney/client relationship or otherwise constitute legal advice. You should seek the advice of an experienced bankruptcy attorney to assess the particular facts of your case. Persons depicted on this website include attorneys in the Florida and Georgia offices of Zalkin Revell, PLLC, as well as photographs of persons who are not attorneys or clients of the firm. Case results depicted are unique to the facts and law applicable to that particular case and should not be relied upon to suggest a similar result in your matter.
Copyright 2009-2016, Zalkin Revell, PLLC. All rights reserved.