Information on Filing for Chapter 7 Bankruptcy
Discharge Your Debts Using the United States Bankruptcy Code
At the Law Office of Andrew Gebelt, we will help you protect and exercise your rights by filing for bankruptcy protection under Chapter 7 of the United States Bankruptcy Code. Contact our offices for a free initial consultation.
We do the paperwork for you. We do not ask you to do exhaustive paperwork before meeting with you. We also help you obtain your certificate of credit counseling.
Your Rights Under Chapter 7 of the U.S. Bankruptcy Code
A Chapter 7 bankruptcy eliminates most or all of your debts. If you qualify to file under Chapter 7, your unsecured debts will be discharged forever. In most Chapter 7 bankruptcy cases, you can keep your home and car if you can afford to keep making the payments. Otherwise, you can turn them over to the lender and owe nothing.
We must prove you do not make too much money to file a Chapter 7 bankruptcy. Too much money depends upon how much money your household averaged during the last six months just before we file your Chapter 7 bankruptcy.
Maximum Household Income For Easy Chapter 7 Bankruptcy:
- One person $51,671 = $4,306/mo.
- Two people $61,919 = $5,160/mo.
- Three people $69,195 = $5,766/mo.
- Four people $80,404 = $6,700/mo.
- Five people $87,904 = $7,325/mo.
If you are under the income level for a household of your size, then income eligibility is almost automatic. However, even if you are over the median income, you may still be eligible to file under Chapter 7 if you have certain standard offsets like high mortgage payments, high car payments, child support payments, or expensive health insurance. We can show you how to qualify using these offsets.
If the court concludes that you make too much, you will be better suited to a Chapter 13 Bankruptcy.
Chapter 7 Requirements
To prove you are eligible to file a Chapter 7 Bankruptcy, we must show that
- You have not completed any kind of bankruptcy with a date of filing under eight years ago
- You do not have some very valuable asset like a non-IRA/non-401k stock portfolio, or more than $125,000 in home equity (401k's/IRA's cannot be seized in bankruptcy)
- Your regular net income is less than or barely exceeds your ordinary monthly expenses
- Your total household yearly gross income during the most recent six months was less than the median income for a household of its size. However, the median income test is not set in stone. Even if you are over the median income, you may still be eligible under Chapter 7 if you have certain offsets like high mortgage payments, high car payments, child support payments, or expensive health insurance payments.
We'll help you determine whether you qualify for a Chapter 7 bankruptcy. We'll also make certain you understand which debts, such as student loans, child support and some taxes, cannot be discharged in bankruptcy. We will verify that exempt assets, including principal residence and vehicle, are excluded from sale in the bankruptcy.
We do the paperwork for you. We do not ask you to do exhaustive paperwork before meeting with you. We also help you obtain your certificate of credit counseling.
Affordable Everett Seattle Bankruptcy Lawyer
For a Chapter 7 bankruptcy, we charge:
- $625 if you are single ($600 service and $25 for a certificate of credit counseling)
- $660 if you are married ($635 service and $25 for a certificate of credit counseling)
All Chapter 7 bankruptcy filings have a $306 filing fee and a $10.00 certificate fee, which can be paid in three installments after the bankruptcy has already been filed. We will help you obtain your pre-filing certificates of credit counseling easily from http://www.abacuscc.org
For experienced and affordable representation in a Chapter 7 bankruptcy filing, contact us to set up a free initial consultation. We work with individuals at all ends of the financial spectrum, whether your debts have just become unmanageable or you have nothing left. Our prices are generally about half of what other law firms will charge you.
