Wyoming Chapter 7 Bankruptcy Attorney
Chapter 7 Bankruptcy Relief
Chapter 7 is the form of bankruptcy most people think of when they think of filing bankruptcy. It is the most common bankruptcy filing. With a Chapter 7 bankruptcy, you receive a discharge of your debts 60 days after you and your Wyoming Bankruptcy Attorney meet with the trustee. When you receive a “discharge” you are no longer obligated to pay your unsecured debt, such as credit card bills, medical bills, deficiencies from foreclosure or repossession and signature loans.
There are some debts which cannot be discharged in Chapter 7 bankruptcy, including most student loans, child support, some tax debt or debt you owe due to fraud or operation of a motor vehicle while under the influence. In Chapter 7, you may decide to keep property secured by a loan and continue to pay those loans or stop making those payments and surrender the property secured by the loan. Even though a trustee, in a Chapter 7 has the right to take and sell property you own which is not secured and not exempt, in most instances, Chapter 7 debtors are able to keep most if not all of their property.
Please feel free to contact Paul with your legal questions. Initial consultations are free.