Chapter 7 Bankruptcy

Chapter 7, also known as "straight bankruptcy" is what most people think of when they think of bankruptcy.

As soon as a bankruptcy petition is filed, an "automatic stay" goes into effect which generally stops most debt collection efforts.

Under a Chapter 7 bankruptcy, most unsecured debts, such as credit cards, medical bills, unsecured judgments, repossessions, payday loans and personal loans are wiped out.

Some debts are not discharged such as child support, student loans, tickets, fines and recent taxes.

You can usually keep your house and car as long as you are current with your payments.

Chapter 7 Special - Only 3 payments of $325.00 including court costs and credit report.