Are you considering filing a Chapter 7 Bankruptcy? You've come to the right law firm. The Law Office of Kerrie C. Justice, Inc., A.P.C. will treat you with respect and dignity. We believe Bankruptcy does not define your character. The Law Office of Kerrie C. Justice, Inc., A.P.C. understands your fears and concerns. In these economic trying times, Bankruptcy is around the corner for almost everyone. You are not alone. Bankruptcy will give you financial relief, prevent foreclosures, stop harassing creditors, and give you a fresh financial start.
The most important step in a Bankruptcy is for you to call an attorney and schedule a consultation. Our office offers free consultations so don’t wait. So many people fear humiliation, shame or feel it is a judgment of their character so they avoid seeking legal advice until the last minute. Call today for your free consultation.
When enough is enough
Are your creditors calling and harassing you at work or home? Are the phone calls causing you stress? Let us take on your stress while you defeat your debt and take back control. When enough is enough remember just $300.00 down with our office and we will immediately start taking your creditor calls.
We offer low income assistance. We have a payment plan with just $300.00/down to open your Bankruptcy file with our office. Our office will not file your Bankruptcy until your account is paid in full. However, we will open your file, take your creditor calls and answer any questions you may have.
What is a Chapter 7 Bankruptcy?
Chapter 7 is complete liquidation of a debtor's property to pay creditors and wipe out remaining debts. It's important to know your Bankruptcy will stay on your credit report for ten years.
Definition of Unsecured Debts
Most unsecured, non-priority debts are discharged in a Chapter 7 Bankruptcy. Unsecured/non-priority debts are debts not attached to property, i.e., credit cards, medical bills, dental bills, private/personal loans, payday advances, etc.
Definition of Secured Debts
A secured debt is a debt that is backed by property. A creditor whose debt is secured has a right to take property to satisfy a secured debt. For example, your mortgage is a secured debt with your home as the security. This means that the lender has the right to take the home if you fail to make payments on the loan. Most people who buy new cars give the lender a security interest in the car. This means that the debt is a secured debt and the lender can take the car if the borrower fails to make payments on the car loan.
Definition of Priority Debts
Most priority debts are non-dischargeable in a Chapter 7 Bankruptcy. This means you will most likely still be responsible for these debts. Examples of priority debts are some taxes, wage claims of employees, debts related to goods and services provided to a debtor’s estate during the pendency of a bankruptcy case, student loans, spousal support, and/or child support. If you have questions deciding which of your debts are entitled to priority status, please call our office for a free consultation.
What is a Trustee?
The trustee is a private person or corporation appointed in all chapter 7 cases. The trustee's responsibilities include reviewing your Bankruptcy petition and schedules. The Trustee may bring an action against your creditors or you to recover property. In chapter 7 Bankruptcy, if property is unprotected, the trustee liquidates your property and makes distributions to your creditors. In most cases, your property is protected with an exemption code and your debt is just liquidated while you keep your property.
You may be afraid of losing your assets/property if you file a Chapter 7 Bankruptcy. You may want to cash-out an IRA, transfer property out of your name, sell a vehicle, etc. In most Bankruptcy situations, your assets/property can be protected. This means you can keep your assets/property and the Trustee will not take it and distribute to your creditors. One of the biggest mistakes you can make is to sell, transfer, or dispose of an asset prior to filing your Bankruptcy. Please consult with an attorney’s office to determine what assets can be protected, potential unprotected assets and when is the best time for you to file your Bankruptcy.
We are here to assist you with your Chapter 7 Bankruptcy. Financial Freedom is just a phone call away. Please call The Law Office of Kerrie C. Justice, Inc., A.P.C. today for your free consultation.