Question

What is a Chapter 7 Bankruptcy?

Answer

A Chapter 7 bankruptcy is a form of bankruptcy that a consumer can file. Basically what a chapter 7 is, is that it allows you to discharge all of your unsecured debt. In order to qualify you can not have filed chapter 7 bankruptcy case in which you received a discharge in the prior 8 years. You also have to pass an income test. If you do both of those things we are able to get your chapter 7 filed, and liquidate all of your unsecured debt in approximately 4-6 months. If you have any more questions regarding bankruptcy, feel free to call Allmand Law Firm PLLC at 214-884-4020 or go to our website at – https://www.allmandlaw.com/.