Houston Chapter 7 Bankruptcy Attorneys

Bankruptcy Lawyers in the Houston Metropolitan Area

Chapter 7 bankruptcy is available to individuals, corporations or partnerships. Under Chapter 7, an individual can discharge all eligible debt meaning you will be relieved of this debt permanently. This is often referred to as “liquidation” because all non-exempt assets will be liquidated in order to pay creditors part or all of what they are owed. Particular debts cannot be discharged, and certain property will be protected from liquidation. A Houston bankruptcy lawyer can review your particular case in order to determine how your Chapter 7 bankruptcy may play out – so you have a better understanding of what will be affected by filing.

Chapter 7 Bankruptcy in Texas

In filing for Chapter 7, an individual must file a petition with the bankruptcy court. The debtor must include specific information regarding assets, debt, income, expenses, exempt property, and additional financial information. Filing for Chapter 7 bankruptcy places an “automatic stay” against debt collection efforts by most creditors. This includes wage garnishment, repossession, lawsuits and contact from creditors.

After a Chapter 7 bankruptcy case is filed, a bankruptcy trustee will be appointed. The trustee will verify whether the debtor’s bankruptcy petition is accurate and will determine what property and assets are not exempt. The trustee will then liquidate the non-exempt property and distribute the income from this to creditors.  Cases are no property cases, meaning everything you have is exempt, come talk to us to determine whether you have any non-exempt assets.

A Chapter 7 bankruptcy may take approximately 120 days to complete, when all eligible debt will be discharged and the creditor will be relieved of this debt permanently.

Houston Bankruptcy Attorney

A Houston bankruptcy attorney at Mills & Henshaw can help you if you are an individual who his considering filing for Chapter 7 bankruptcy in the Houston metropolitan area of Texas. We are absolutely dedicated to preserving our clients’ rights and to helping them through the bankruptcy process in a manner which will protect their assets and give them a fresh financial start.

Contact a Houston Chapter 7 bankruptcy lawyer at Mills & Henshaw today to discuss filing for bankruptcy.