Almost Everything There Is To Know About Filing A Chapter 7 Bankruptcy

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Denvil Crowe has the knowledge and experience to assist anyone who may need to consider filing a bankruptcy case, whether a Chapter 7 or 13. Please schedule a consultation today at our conveniently located office in Tupelo at 346 N. Green Street. At this consultation, we think you'll feel like you're visiting an old friend for advice and immediately feel like there are definite solutions to your financial problems. When you leave the office of Denvil Crowe, we think you'll have a sense of relief and feel much better, relieved of the stress that first brought you to see us in the first place. Let a qualified and caring professional help solve your financial problems. Let a qualified and caring professional help alleviate burdensome stress.

A Chapter 7 bankruptcy case acts as a liquidation of the bankruptcy filer's assets. A bankruptcy trustee assigned to the Chapter 7 case will sell or "liquidate" the nonexempt assets owned by a debtor at the time of the bankruptcy case filing. The proceeds of this sale or liquidation are used to pay creditors. The laws regarding exemptions of the state of Mississippi determine the type of property (I.e., personal property) that is exempt, as well as to what extent such property is extent (i.e., the dollar value of the personal property -$10,000 in Mississippi). It is conceivable that if all of a debtor's property is exempt, the trustee will not sell or liquidate any of it to repay creditors.

A Chapter 7 bankruptcy debtor will typically receive a discharge order 3-4 months after the filing of the bankruptcy case. A discharge order "completes" a case and represents the official discharge of the filer's debts. The debtor no longer has any legal obligation to repay any debts discharged in the bankruptcy case. Any debts that are not discharged must be repaid pursuant to the terms of the original agreement for the debt. Debts such as alimony, child support, student loans, income taxes and property taxes must be repaid. Debts for which there is some underlying collateral (such as homes, real estate, motor vehicles, and some household goods) must also be repaid.

Denvil Crowe has helped many Mississippi residents subject to financial hardship file a Chapter 13 or Chapter 7 bankruptcy case. Maybe you're not quite ready and just want some basic information about bankruptcy. If so, Denvil Crowe's office is readily available to help you find the answers to all of your debt solution questions and problems. Thoughtful, caring, and informative, we can help you decide what is best for you financially and whether bankruptcy is your best option. Call 800-429-HELP (4357), email us at Contact@denvilcrowe.com or check us out online today.

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