Arlington Chapter 7 Bankruptcy Lawyers

Erase Debts & Claim a Clean Slate in Texas

Every year, millions of Americans find themselves burdened by credit card debt they can never realistically pay back. Chapter 7 bankruptcy – also known as liquidation – offers a path to eliminating unsecured debts. For those who qualify, Chapter 7 bankruptcy protection paves the way toward new beginnings and a clean slate.

Our Arlington Chapter 7 bankruptcy attorneys can help you get the fresh start you need. We also offer other types of debt relief services, including fair debt collection practices claims that assist those who are targets of overzealous creditors.

Chapter 7 bankruptcy can provide debtors relatively fast financial relief. It can take anywhere from 3 to 6 months to complete a Chapter 7 filing. At the end of this process, you will be able to discharge most if not all of your debts.

Once you file for bankruptcy, the automatic stay provides you a legal shield against creditors. With the automatic stay, creditors cannot call you to collect on debts, any garnishment of your wages end, and you can prevent utility shut-offs.

Do I Qualify for Chapter 7?

To file for bankruptcy under Chapter 7, debtors must meet certain qualifications.

Debtors may qualify for Chapter 7 bankruptcy in any of the three following ways:

• Having an income less than the average income for their household size.
• Having the majority of debt be “non-consumer”. This can be tricky because a mortgage is considered consumer debt and can often cause the struggle. Large judgments that come from a lost civil trial will often push individuals into a position where they qualify. This calculation is sometimes difficult to predict and takes some skill.
• Passing the “Means Test.” The Means Test is a calculation that seeks to determine a bankruptcy debtor’s disposable income. This disposable income is your leftover income after paying for real-world expenses such as mortgages, car payments, and IRS allowances. If a debtor can demonstrate they have insufficient funds to pay back any appreciable amount of money to unsecured creditors, they can file a Chapter 7 bankruptcy petition.

Individuals who have an income too high to qualify for Chapter 7 can still obtain debt relief through Chapter 13. Both types of bankruptcy act as a shield against creditors. Our bankruptcy attorneys in Dallas-Fort Worth also offer other types of debt relief service, including fair debt collection practices claims that assist those who are targets of overzealous creditors.

How to File for Chapter 7 as an Individual

For individuals who qualify, Chapter 7 personal bankruptcy can permanently eliminate most types of unsecured debt in just a few months.

Usually, these bankruptcies are due to debts such as:

• Credit card debt
• Medical bills
• Utility bills
• Leases
• Personal loans
• Certain types of business debts