At Lauber Dancey, we help clients file for Chapter 7 bankruptcy protection. Sometimes referred to as a "total debt liquidation bankruptcy," or a “straight bankruptcy,” Chapter 7 bankruptcy has generally been the bankruptcy used by people who have few assets, but who carry a large amount of unsecured debt like credit cards, medical bills, personal loans, auto deficiencies or monies due from old apartment leases.
Chapter 7 bankruptcy gives people a way to financially begin again. It is a bankruptcy used to completely wipe out most debts in a legal proceeding conducted under the jurisdiction of the Federal U.S. Bankruptcy Court. Chapter 7 bankruptcy discharges debts such as credit card debt, medical bills, personal loans, delinquent utility bills, old tax debt, and deficiencies on repossessed vehicles. Under Chapter 7 bankruptcy, you will never have to pay your creditors for these types of debts. However, there are several types of debts that cannot be discharged by filing for Chapter 7. Child support, recent tax debt, student loans, and certain types of court-ordered damage awards are not dischargeable with bankruptcy, call us for more information. Most of our clients are able to keep their property when they file for Chapter 7 bankruptcy. However, it is important to be current on vehicle and/or house payments if you want to file a Chapter 7 and keep your property.
Many people think that by filing a Chapter 7 bankruptcy, their credit will be ruined for years. This is simply not true! We have a credit based economy, and most of our clients are able to begin rebuilding their credit immediately after their Chapter 7 is discharged. Many of our clients are able to buy a home within two years after receiving a Chapter 7 discharge. A Chapter 7 bankruptcy in Washington takes a relatively short period of time. Most clients receive a discharge within 4-6 months of the date of filing.
If you are tired of receiving harassing phone calls from your creditors, you may feel relieved to know that as soon as your Chapter 7 has been filed, your creditors are prohibited by law from calling you. You may refer any calls you still receive to our office, and we will talk to your creditors for you. We understand how difficult and stressful life can be when you feel as if you are drowning in debt. If you don’t think you can bring your debts under control, and need the help of a team of caring professionals, please call us for your free consultation.
When you do not have a sufficiently high or regular income to enable you to pay off debts, a straight liquidation bankruptcy under Chapter 7 may be the best choice for you. Chapter 7 does provide you the opportunity to avoid almost all of your debts without making any payments on those debts. It also prevents further collection efforts by your creditors. Call us today to see if you qualify.