Chapter 7 Bankruptcy
A quick and easy fresh start
Chapter 7 is the most idea for most peope's situation since it generally does not require that you pay back any debts and most people get to keep all of their property. See below for more information.
Information about Chapter 7 Bankruptcy
Navigating the Means Test
In 2005, the Bankruptcy Code was overhauled to include a test to determine who should be allowed to file a Chapter 7 bankruptcy to receive a quick and relatively easy discharge and who should be required to pay back creditors over five years in a Chapter 13.
For those people who are above-median income for their state, the Means Test can get complicated, but Chapter 7 may still be an option.
Ending Creditor Harassment
Phone calls, past due notices, lawsuits, wage garnishments, bank levies, and more
When clients retain our firm and even before a case is filed, they can refer their creditors to our office which stops the harassing creditor calls. The most effective and permanent way for stopping all creditor actions is to file for bankruptcy which will impose a stay prohibiting any such actions. Once your discharge is received, that stay becomes permanent.
Exemptions and Exemption Planning
Utilizing exemptions and planning ahead
Chapter 7 bankruptcy comes with the risk that you may lose any property that cannot be claimed as exempt. With creative use of exemptions and planning ahead, we can minimize this risk.
Avoiding Liens on Your Property
Reversing judgment liens, wage garnishments, and bank levies
Sometimes the decision to file bankruptcy comes after creditors have already started to enforce their debts. Through the avoidance of liens, we can reverse some of these collection actions. If you have previously filed a bankruptcy and a judgement lien survived, we can reopen your case and avoid that lien even if it has been many years since the case was filed.
Keeping or Getting Rid of Your Vehicle
Reaffirmation, Ride Though, Surrender, Redemption, Assumption, and Rejection
When filing a Chapter 7 bankruptcy, you will have several different options with how you will treat vehicles or other property that is secured by a debt or are being leased.
Student Loan Discharge
Contrary to popular belief, student loans can be discharged in certain circumstances
While it is true that most student loans are non-dischargeable, there are some circumstances which a standard Chapter 7 discharge will wipe out certain student loans. Additionally, any student loan can be discharged, at least in part, if your financial situation shows that it would be an "undue hardship" to repay the loans. Your attorney will be able to give you an idea of whether these options are avilable to you.
Family Law Issues
Navigating the crossover of family law and bankruptcy
Bankruptcy often goes hand in hand with divorce or other family law issues. This crossover can get extremely complex and requires an intimate knowledge of both areas of law in order to successfully navigate.
Adversary Proceedings Bankruptcy Litigation
Defending lawsuits brought by creditors, the Trustee, or the US Trustee's Office
An adversary proceeding is a lawsuit that is separate from the "core" bankruptcy proceeding. Usually these lawsuits are brought by creditors seeking to have their debt determined to be non-dischargeable. Adversary proceedings can also be filed by the Chapter 7 Trustee or the United States Trustee's Office and can range from denial/recvocation of discharge, turnover of property, fraudulent transfer, and more.
When someone who owes you money files bankruptcy
All of us at Heston & Heston consider ourselves to be debtors' attorneys. However, sometimes the good guy is the creditor. Our experience with defending these actions give us insight on how to successfully prosecute a case against someone who is indebted to you.