Chapter 7 Bankruptcy
Chapter 7 is the “fresh start” bankruptcy causing a person or entity to be FREE FROM MOST CONSUMER DEBT. Chapter 7 will not guarantee that you can keep your home as a Chapter 11 or Chapter 13. It only gives you a “window” in which to try to secure a loan modification and perhaps make you more eligible for a loan modification because of the reduction in debt payments.
Frazee Law Group is a debt relief agency. We help people file for bankruptcy relief under Bankruptcy Code.
In a Chapter 7, the debtor can wipe out all of the credit card debt in a matter of a few months plus other debts such as medical, mortgage debt, vehicle loans, unpaid tax debt and personal loans keeping most, if not all, of the assets. You have to keep in mind that the Bankruptcy Court is a government entity so it will USUALLY not permit you to wipe out any government debt, such as income taxes (except if over 3 years old), traffic tickets, government-backed student loans or court-ordered support payments. However, special provisions provide that student loans may be wiped out under certain circumstances. In addition, there are exemptions provided by state and federal law which excludes certain properties from being sold by the trustee, for example jewelry, professional books and “tools of the trade,” “whole life” insurance contracts, personal household furnishings, goods, clothing, books and a “wild card” of $24,160 (adjusted for inflation on April 1, 2013) which can be added to other categories or used by itself.
WHEN YOU HIRE FRAZEE LAW GROUP, A COMPUTER PROGRAM WILL LIST THE PROPER EXEMPTIONS FOR YOU TO SAVE YOUR PROPERTY. In addition, Frazee Law Group will answer all your questions.
Chapter 7 bankruptcy starts at $750 for single debtor and $1,000 for couples plus court filing fee of $306.00. This bankruptcy includes preparation of documents to be filed with Bankruptcy Court, a “special appearance” attorney for the Creditor’s Meeting, attorney assistance and final financial credit counseling filing – to completion. Chapter 7 bankruptcy starts at $1000 for single and $1200 for couples plus court filing fee of $306.00. This arrangement is identical to the above arrangement but RoseAnn Frazee or another member of the firm will accompany you to the creditor’s meeting rather than a “special appearance” attorney.
Additional Special Arrangements can be made with Frazee Law Group.
Frazee Law Group offers Affordable Payment Plans for Chapter 7 bankruptcies.