Chapter 7 Bankruptcy

Frequently called “the fresh start” chapter, this will usually get rid of all of your debt. Assets will be reviewed to pay creditors, but most of the debtor’s possessions are usually protected.

Chapter 7 bankruptcy is generally the fastest and most straight forward of the bankruptcy options. It is, however, a complicated process that should be dealt with by an experienced bankruptcy professional or attorney.

Considered the fresh start, this is also called straight or liquidation bankruptcy. The bankruptcy trustee cancels many or all of your debts. The court will see if there are assets that can be liquidated to pay creditors. However, this rarely results in a loss of debtor’s home, vehicles or personal property.

A complete review of your finances and a detailed and confidential interview will help us assist you in determining the strategy that will be used to help you return to financial success. Making the right decisions can result in mitigating potentially negative results. To qualify for a Chapter 7, you must complete a credit counseling course and not have filed for bankruptcy in the last 8 years. Furthermore, you will have to qualify under a means test. If you don’t qualify, you will need to look at filing a Chapter 13.

We understand that this is stressful time and situation. Bankruptcy is a hard decision to make, but we will simplify and explain the entire process to you in an effort to help you make an informed decision as to what option will work best for you. We can guide you through the process of filing for bankruptcy and ensure that your rights are well-protected.

We have been helping people in the Knoxville area for over 25 years. We provide you with personal attention and focus on bankruptcy law. You will meet with the attorney one-on-one until you feel comfortable with the process. The attorney answers all questions and returns all phone calls herself. Contact Denna Middleton, Attorney at Law, to discuss your options.