Galveston County Chapter 7 Bankruptcy Attorneys
There are several different types of bankruptcy protection designed to assist individual debtors and companies in times of financial distress. Chapter 7 of the Bankruptcy Code is one of the most commonly used tools for individuals and families to seek bankruptcy protection. Chapter 7 allows some debts to be formally discharged in exchange for partial payment of the amounts owed to creditors.
As you might expect, there are some concessions which must be made by a debtor in order to be eligible for Chapter 7. Among these is the process of asset liquidation. Some of a debtor’s eligible property may be sold and the funds distributed to creditors pursuant to a court order. The person filing bankruptcy can choose some items to withhold from the sale, but there are limitations on what those items may be.
If you would like the collection letters and calls to stop, contact the Galveston County Chapter 7 bankruptcy lawyers of Gipson & Norman at 800-291-0898.
What Bankruptcy Can Do for You
Those who might advise against filing for bankruptcy often give warnings about certain kinds of debt that cannot be discharged by a Chapter 7 bankruptcy filing. What they fail to mention is that there are many debts that can be discharged. In addition, the debts that can be discharged are often those of most concern to the average consumer. Some of the common forms of debt which may be discharged under a Chapter 7 bankruptcy include:
- Personal loans
- Credit card debts
- Medical bills
- Business debts
Contact Us
The Galveston County Chapter 7 bankruptcy attorneys of Gipson & Norman are committed to helping you choose the right legal option for your unique circumstances, but we cannot help you unless you call. Contact us today at 800-291-0898 to schedule a consultation.
