Fort Bend County Chapter 7 Bankruptcy Attorneys

Bankruptcy has long been a shameful word, but that is becoming less so as more families than ever are finding themselves at the bottom of a huge debt load and are unable to manage what were once reasonable payments. Chapter 7 of the Bankruptcy Code allows for debtors to end collection efforts on many of their outstanding debts through the liquidation of their assets to provide funds that are then distributed to creditors as partial payments.

This process is managed by a Trustee who inventories and conducts the sale of a debtor’s non-exempt property. Because the law aims for fairness, it allows the filer to keep some possessions out of the sale, making them “exempt”. While some types of property are automatically granted this status, others may be identified as long as they meet certain criteria and don’t exceed a total value of $60,000 for a family, or $30,000 for an individual seeking Chapter 7 bankruptcy protection.

To figure out whether this may be the right choice for your situation, contact the Fort Bend County Chapter 7 bankruptcy attorneys of Gipson & Norman. We are dedicated to helping you find the best option to reach a better financial future. Call us at 800-291-0898.

An Important Consideration

As stated above, the Bankruptcy Code aims for fairness, and that also includes fairness for creditors. To protect some special types of debt, a Chapter 7 bankruptcy does not discharge the following:

• Taxes
• Student Loans
• Child Support
• Alimony

Contact Us

As a courtesy, we offer all of our clients a free initial consultation. You have nothing to lose, and perhaps everything to gain. Contact the Fort Bend County Chapter 7 bankruptcy lawyers of Gipson & Norman at 800-291-0898.