A Fresh Start
A Chapter 7 Bankruptcy is also called a straight Bankruptcy. It allows those who file and complete their case a financial “Fresh Start.”
How Long Does Chapter 7 Bankruptcy Take
From start to finish, a Chapter 7 lasts four months. Once a case is filed, a meeting of creditors is set. The person who files a Chapter 7 case must appear at their meeting of creditors about 4-5 weeks later. If they do everything correctly and on time, they only have to go to Court once and then they obtain their Discharge.
No Asset Cases in Chapter 7 Bankruptcy
At the Meeting of Creditors, the person who files for bankruptcy is examined under oath by the Chapter 7 Trustee. The Trustee’s job is to make sure all applicable provisions of the Bankruptcy Code are complied with and to administer the bankruptcy estate. Most Chapter 7 cases go very quickly as there are no assets to be administer by the trustee. This is called a “no asset” case.
The Discharge means that there is no longer any debt owed with a few exceptions. If they own a car, they get to keep that so long as they continue to make payments on it, that debt is not discharged.
Here at Marshall and Associates, we make this whole process as easy as possible from our Middle Tennessee location. Once we are provided with all required documents a Bankruptcy Petition and Schedules are prepared. Once that is accomplished, our client will come in and sit down with the attorney and go over all the documentation to ensure it is accurate and complete. Then the case is file.
We attend all court hearings with our clients, explain the process to them in detail, and are available to them to answer any questions they may have, or address any concerns.
Hear is what our client Amanda C has to say about her experience.
“Thank you so much for your help with my case and your great advice. I’m glad this chapter is over with. You have been an excellent attorney and I’m so glad I hired you to represent me.”