A Chapter 7 bankruptcy enables a debtor to quickly wipe out debt without repaying it.  Usually, the debtor keeps most if not all of his or her assets.

Upon filing a Chapter 7 bankruptcy petition with the court, the court issues an automatic stay.  This protects the debtor and his or her assets from creditors.  The automatic stay prevents any creditors from contacting the debtor to collect a debt.

About a month after the bankruptcy case gets electronically filed with the Bankruptcy Court, the debtor attends a 341(a) hearing.  By hiring the right lawyer to file your bankruptcy, you can rest assured that you will be overly-prepared for this hearing.  Do not be intimidated by the hearing’s official name (“Meeting of the Creditors” which is arguably a misnomer) because most of the time no creditors will appear at this hearing.  If your lawyer does a good job with your case, the 341(a) hearing usually only lasts a few minutes.

Approximately 2 months after the 341(a) hearing, the Bankruptcy Court enters the Discharge Order which legally wipes out most types of a debtor’s unsecured debts.  Call attorney Richard Komisars at (619) 888-8272 in order to find out which types of your debts can be quickly wiped out in a Chapter 7 Bankruptcy.

Call now to schedule your free consultation with a bankruptcy lawyer at (619) 888-8272.