Finding Debt Relief Through Chapter 7 Bankruptcy

If you feel like you are in debt over your head and do not know where to turn, the Law Office of Andy Nguyen, PLLC, can assist you. We help clients get a fresh start through Chapter 7 bankruptcy proceedings. Based in Arlington, Texas, we serve individuals and families in Grand Prairie, throughout the Greater Dallas Area, and beyond. Our mission is to take the burden of debt off your shoulders and allow you to regain a sense of financial security. You can count on our Chapter 7 bankruptcy attorneys to provide the knowledgeable and accessible legal representation you need.

Potential Benefits Of Filing For Chapter 7

Chapter 7 bankruptcy offers many potential benefits to individuals who qualify. Here are just a few:

  • Eliminate extensive debt — Chapter 7 bankruptcy can wipe out unsecured debts such as credit card and medical bills.
  • Stop creditor harassment — If creditors keep calling you, demanding repayment, filing bankruptcy will put an immediate stop to it. Creditors will be obligated by law to contact your lawyer instead.
  • Stop wage garnishment — Bankruptcy will also put a quick halt to wage garnishment, allowing you to protect your hard-earned paychecks.
  • Avoid lawsuits — Wiping out debt often makes more sense than defending against a debt-related lawsuit. For instance, if your business goes under and your landlord comes after you for the full value of the lease, filing Chapter 7 may be the best route to take.

In order to qualify for Chapter 7 bankruptcy, you must pass a means test. Our law firm will guide you through the test and explain your options afterward.

What Is Chapter 7 Bankruptcy?

Chapter 7 bankruptcy is a chance for someone to start over and wipe out all of their debt.

What Is The Means Test In A Chapter 7 Bankruptcy?

There are two different tests involved in Chapter 7 bankruptcy, one of which deals with a person’s income. If someone’s income falls below the median income in the state, then they will automatically qualify for Chapter 7 bankruptcy. If their income does not fall below the median income in the state, then they will need to answer a series of questions that address their income and expenses in order to determine whether or not they qualify for Chapter 7 bankruptcy.

Can The Amount Of Alimony Or Spousal Support In A Divorce Ever Be Changed?

Changes in child support are common, but changes in alimony are not. The amount of child support will likely be adjusted if one parent or the other gets a better job, fails to follow the visitation schedule, or if the child develops a disability that mandates more support.

What Are The Chapter 7 Bankruptcy Exemption Rules In Texas?

In Texas, Chapter 7 bankruptcy exemption rules are very generous. The exemptions include a person’s house, household belongings, one vehicle for each driver, and retirement benefits. However, bank account balances and cash are not exempted.

What Kind Of Debt Is Typically Dischargeable In Chapter 7 Bankruptcy?

Chapter 7 bankruptcies will extinguish all consumer-revolving debt but will not discharge child support, child support liens, tax liens, student loans, ill-gotten gains, or anything associated with fraud.

What Will I Be Able To Keep In A Chapter 7 Bankruptcy?

In a Chapter 7 bankruptcy, an individual will be able to keep all of the exempt property, which includes their house, household belongings, their vehicle, and their retirement benefits.

Is Chapter 7 Bankruptcy Easier To Qualify For And File Than A Chapter 13 Bankruptcy?

The difference between Chapter 7 bankruptcy and Chapter 13 bankruptcy comes down to the type of debt involved, a person’s income level, and the consistency of their income. In general, if someone’s income is low enough, then Chapter 7 bankruptcy will be easier to qualify and file for.

How Long Does It Take On Average To Get A Chapter 7 Bankruptcy Discharge?

The Chapter 7 bankruptcy process takes a couple of months. An individual will start by taking a class, and will then file a voluntary petition. Once the petition has been filed, they will have a 341 meeting, which is a chance for creditors to challenge the debts that the individual is attempting to have discharged. If there are no objections within three months, then the debts will be discharged.

Learn More In Consultation

Attorney Andy Nguyen takes the time to keep clients informed at every step of their cases, so do not hesitate to consult him today. To schedule an appointment, call the Law Office of Andy Nguyen, PLLC, at (817) 532-5666 or contact our Arlington office online. We speak Vietnamese and Spanish.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

For more information on Chapter 7 Bankruptcy In The State Of Texas, an initial consultation is your next best step. Get the information and legal answers you are seeking by calling (817) 532-5666 today.