Middleton & Tinsley Law Firm, PLLC
Chapter 7 bankruptcy protection allows debtors to get rid of most debts and start over with a clean slate. Chapter 7 is the process by which unsecured debts (credit cards, medical bills, signature loans, etc.) are eliminated (also called “discharged”). Secured debts (debts guaranteed by land, a car title, jewelry, etc.) can be reaffirmed under certain conditions. A majority of our clients keep their homes and cars in a Chapter 7 Bankruptcy.
You must prove eligible to file a Chapter 7 bankruptcy, but most of our clients do. A complicated calculation called the “means test” is performed to determine eligibility.
Do not worry about the test, we perform the calculations for you, and a great majority of our clients do qualify. Debtors that fail to meet the requirements of a Chapter 7 bankruptcy often file a Chapter 13 bankruptcy (often called a “repayment plan”).
There are also special exceptions for veterans, the elderly, and those with debt that primarily came from operating a business.
Bankruptcy law protects some kinds of property through exemptions and they can include your home, automobile, spouse or minor children’s automobiles, certain personal property, wildcard exemptions (a catch-all for property that doesn't fit into a designated category), tools of the trade (such as mechanic tools, a work van, or other items needed to allow you to make an income after the bankruptcy), and even your wedding and engagement rings.
We are a debt relief agency.
We help people file for bankruptcy relief under the Bankruptcy Code.