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560 S. McDonough St., Suite A Montgomery, AL 36104

(334) 269-0269

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INFORMATION ABOUT CHAPTER 7 BANKRUPTCY

Eliminate Qualifying Debt and Get a Fresh Financial Start.

Bankruptcy is one of the two primary types of consumer bankruptcy. A successful Chapter 7 bankruptcy petition completely eliminates eligible debt. Eligible debt includes unsecured debt like credit cards and medical bills. With a Chapter 7 bankruptcy, you may be able to reaffirm secured debts, like car loans and home mortgages, to keep those items and catch up on missed payments.

If you are fighting growing debt and can’t see your way to paying down the debt in the next couple of years, Chapter 7 bankruptcy may be an excellent option to escape the debt and get a fresh financial start. Get answers to your questions about filing for Chapter 7. Carly B. Wilkins focuses her legal practice on debt relief. Contact Mrs. Wilkins to schedule an appointment today at (334) 269-0269.

Who Qualifies for Chapter 7 Bankruptcy?

One of the major misconceptions about consumer bankruptcy is that almost no one can qualify for Chapter 7 bankruptcy. This is not true. It is true that the petitioner has to pass a “means test” in order to qualify for Chapter 7 bankruptcy. One version of the Chapter 7 bankruptcy means test compares your income to the median income for your state and household size. If your income is lower than the state median, then you qualify for Chapter 7 bankruptcy.

If your family income is higher than the median income, you may still qualify for Chapter 7 bankruptcy. An experienced Chapter 7 bankruptcy attorney like Mrs. Wilkins can analyze your finances via a more detailed means test that compares your income to your monthly expenses.

Sometimes, timing is important when filing Chapter 7 bankruptcy as well. Perhaps you do not currently qualify, but know that you are facing employment changes in the future. Contact Mrs. Wilkins at (334) 269-0269 to schedule a free initial consultation to see if you qualify for a Chapter 7.

What to Expect if you file a Chapter 7 Bankruptcy

Before filing bankruptcy, you will have to complete a short credit counseling course that can be completed at the convenience of our office or your home. One month after filing for Chapter 7 bankruptcy, you will have a court hearing with your attorney in front of a Chapter 7 trustee at a meeting of creditors. In most cases, in approximately another sixty days, you will likely be discharged from debt and this will be entered. That means in most cases that within ninety days of filing for bankruptcy, you could wipe out your entire unsecured debt.

Will I still owe taxes to the IRS and State of Alabama after I file a Chapter 7 Bankruptcy?

There are some taxes that can be discharged in a Chapter 7 bankruptcy case. Generally speaking, if the tax returns have been filed and two years have passed the taxes may be dischargeable.

In order to determine if your taxes can be discharged, you should consult with an experienced bankruptcy attorney at Carly B. Wilkins, P. C. Call (334) 269-0269.

Important Bankruptcy Information

There is certain information you are going to need to prepare in order to file for bankruptcy. The sooner you get us this information, the sooner we can help you get the debt relief you deserve. We are ready to help you today. Although not all information will be needed at the free initial consultation, you can hasten the process by bringing the following information:

  • Driver’s license, social security card
  • Two years of filed tax returns (most currently filed return and last return filed prior to that).
  • 6 months of previous payroll and pay stubs.
  • Tax assessment of all your real property.
  • All of your bills – medical bills, credit card bills, etc.
  • Credit Report.
  • Judgments and pending lawsuits against you.
  • Any information of lawsuits you are pursuing.
  • Vehicle information and proof of insurance.

Get Answers to Your Questions About Chapter 7 Bankruptcy

Most people considering bankruptcy have many questions. Will I lose my house if I file Chapter 7 bankruptcy? What happens to my bankruptcy if I get a divorce? Will I lose my car?

Get answers to these and other questions. Make an appointment with a knowledgeable bankruptcy attorney at the law office of Carly B. Wilkins, P.C. Call (334) 269-0269

Chapter 7 Bankruptcy Compared to Chapter 13 Bankruptcy

If, after we perform every possible financial analysis, we determine that you do not qualify for Chapter 7 bankruptcy, we can advise you about Chapter 13 bankruptcy. Chapter 13 bankruptcy is sometimes called debt reorganization bankruptcy. With Chapter 13 bankruptcy, you enter into a reasonable repayment plan overseen by the bankruptcy court. If you make all scheduled payments over the three to five-year repayment period, remaining unsecured debt may then be eliminated.

We are a debt relief agency. We help people file for relief under the Bankruptcy Code.