This type of Bankruptcy will relieve you of most of your debts with a few exceptions, such taxes, some student loans, and domestic support obligations (including alimony and child support). Even so, some tax obligations can be discharged in Chapter 7 as well as student loans under certain circumstances.
Chapter 7 is a chance for a fresh start on your way to financial freedom. Chapter 7 can eliminate these types of debt:
- Judgments and lawsuits
- Credit card debt
- Medical and hospital bills
- Unsecured loans
- Secured loans if you need to surrender the property that secures those loans
The following is a list of assets, property interests, and money that may be kept if you file a Chapter 7 Bankruptcy case:
- Equity in your home and burial plots
- Clothing, jewelry, books, musical instruments, and pets
- Health aids
- Crops and farm animals
- Household furnishings
- Work tools, books, implements required for your employment, and other “tools of the trade”
- Child support payments
- Many life insurance policies
- Most retirement accounts
- Personal injury awards and wrongful death recoveries
- Most all public assistance including Social Security benefits, disability benefits, veterans’ benefits, and unemployment compensation benefits
We will walk with you hand in hand from the beginning to the end of the Bankruptcy process. From your first meeting with our Arkansas Chapter 7 Bankruptcy lawyers, we will evaluate your needs to determine if Chapter 7 is right for you.
We will advise you of what you need to prepare your Bankruptcy petition and schedules, file the necessary documents, attend your meeting of creditors (where most, if not all, creditors fail to attend), and proceed to the discharge of your debts and closing of your case.
CONTACT CADDELL REYNOLDS LAW FIRM TODAY SO THAT JOEL G. HARGIS CAN GET STARTED PROTECTING YOU, YOUR FAMILY, YOUR SANITY, AND YOUR PROPERTY. CALL US AT 800-671-4100 TODAY.