Chapter 7 Bankruptcy
Chapter 7 Bankruptcy
Chapter 7 Bankruptcy is also known as “Liquidation Bankruptcy.” Once a Chapter 7 Bankruptcy petition has been filed, an “Automatic Stay” will be issued by the U.S. Bankruptcy Court. An Automatic Stay in Bankruptcy is the injunction that prevents creditors from taking certain actions to collect debts. As long as the Automatic Stay is in effect, creditors generally cannot initiate or continue lawsuits, threatening telephone calls, or wage garnishments. Chapter 7 primary purpose is to discharge certain debts and give you a “fresh start” in a short period of time.
An individual or a business can file a Chapter 7 Bankruptcy. Saunders & Associates has been practicing law since 1989. Yes, 32 years of experience vigorously representing you.
In a Chapter 7 bankruptcy, you’ll fill out forms about what you earn, spend, own, and owe and submit these forms to the bankruptcy court. A bankruptcy trustee will review your forms and documents. The trustee will hold your 341 Meeting of Creditors, where they’ll ask you basic questions about your financial situation.
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Our Clients Say
Sara M- Foreclosure Client
Very helpful from the beginning. They answered all my questions and were great at helping me save my home from foreclosure. I highly recommend this law firm.
Michael A- Litigation
I was in need of an experienced attorney who knows litigation. I was very happy with the service and the results. I was notified about the each step and what was happening. The client portal is a great tool to be able to access and upload.
S. Landsbrook- Foreclosure
Had to separate legal issues to deal with. First, the foreclosure I was going through was resolved after trying other companies, no one could help. After that was resolved I had a living trust which needed to be created. Everything went smooth.
Nathan Skaggs- Litigation
I contacted Saunders & Associates and asked them about some personal matters I was dealing with. They helped me promptly. I am so glad I reached out.
C. Teitelbaum- Foreclosure
The Saunders group not only saved my home and got me a low interest long term modification, they saved me $200,000 in the process. They are the pinnacle at what they do, and they do what they say!