Fort Worth Chapter 7 Attorneys

How You Can Benefit from Chapter 7 Bankruptcy

Also known as “liquidation bankruptcy,” Chapter 7 bankruptcy is a popular form of debt relief that allows a debtor to discharge most, if not all, of their unsecured debt in a short amount of time. During this process, non-exempt assets are sold by the bankruptcy trustee, and the proceeds are used to pay back creditors in order of priority.

If you are struggling to overcome your debt, Chapter 7 bankruptcy may be right for you. When you request a free financial empowerment session with a Fort Worth bankruptcy attorney at Allmand Law Firm, PLLC, we'll help you explore your options and understand your rights. Take the first step toward financial freedom by giving us a call today.

Why is Allmand Law Firm, PLLC qualified to handle your case?

  • We have handled tens of thousands of bankruptcy cases
  • Attorney Reed Allmand is a board certified bankruptcy expert
  • We have been featured on Fox News, CBS News, and ABC
  • We are the largest bankruptcy filing firm in the state

Chapter 7 Eligibility: Taking the Means Test

Unlike Chapter 13 bankruptcy, which is executed over three to five years, Chapter 7 bankruptcy can be completed in just a few short months. It is for this reason that not all debtors are eligible to file under this chapter of the Bankruptcy Code. In order to qualify for Chapter 7 bankruptcy, you are required to pass what is called the “means test.”

The means test will compare your average monthly income to the state’s median income for a household of the same size. If your income is equal to or less than the median, you pass. If not, the test will look at whether or not you have enough disposable income to repay your creditors. If your disposable income is too high, you would fail the test.

Understanding the Chapter 7 Bankruptcy Timeline

  • Step #1: You must complete credit counseling within 180 days of filing
  • Step #2: Once you file, you will be protected by the automatic stay
  • Step #3: The creditors meeting will take place 20-40 days after you file
  • Step #4: After the meeting, you will have 45 days to reaffirm debts
  • Step #5: You must complete secondary credit counseling within 45 days
  • Step #6: Within four to five months, your debts will be discharged

Get Started with a Free Bankruptcy Consultation

As the largest bankruptcy filing firm in the state, we have already helped thousands of debtors take control of their finances. Now, our firm is ready to assist you. Contact the Fort Worth Chapter 7 lawyers at Allmand Law Firm, PLLC today to find out how we can put two decades of experience to work for you. Initial consultations are free!


Contact our office at (214) 238-9608 to request your FREE case evaluation.