Chapter 7 Straight Bankruptcy
Alabama Bankruptcy Lawyer
Are you ready to file for bankruptcy? There are several different types of bankruptcy proceedings that you can choose to undergo. This is a somewhat complex and painful process that will require the aid and counsel of an expert firm of bankruptcy lawyers.
What is Chapter 7 Bankruptcy?
Chapter 7 bankruptcy is commonly referred to as a “straight bankruptcy.” This means that you may be required to relinquish all of your non-exempt property to a trustee.
This trustee will convert this property into cash which will then be used to pay off all of your unsecured debts. This may include credit card debt, medical bills, and any other unsecured loans that you may still owe. After the discharge is complete, your unsecured debts are considered to be wiped out and your record is clean.
There are several benefits to choosing a Chapter 7 bankruptcy. One of them is a generally shorter process. Another is the fact that your future income will not be included in your bankruptcy, thus enabling you to plan for a better financial future.
Contact the Loris Law Firm for More Information
You can count on our firm to give you expert legal representation. Our goal is to guide you through the Chapter 7 bankruptcy process so that you can discharge your debt as quickly and painlessly as possible. Get in touch with us today to learn what our firm of Alabama bankruptcy lawyers located in Mobile, Selma & Robertsdale can do for you.