Your Path to a Fresh Start
Chapter 7 bankruptcy, often called the "Fresh Start Bankruptcy," provides immediate relief from overwhelming debt. This powerful legal tool allows you to eliminate unsecured debts such as credit cards, medical bills, and payday loans while protecting your home and personal possessions.
When Is the Right Time to File for Chapter 7 Bankruptcy?
As our Chapter 7 bankruptcy attorneys often say, if you're asking this question, you may have already waited too long. Consider these facts:
- Paying only minimum credit card payments can trap you in debt for 20+ years
- Financial experts suggest you need to earn approximately 3 times your debt amount to pay it off in a reasonable timeframe
- If you owe $20,000 in unsecured debt, you would need NET earnings of at least $60,000 to effectively manage repayment
- The emotional toll of financial stress affects your health, relationships, and quality of life
How Chapter 7 Bankruptcy Works for You
Chapter 7 bankruptcy offers numerous benefits that other debt solutions simply can't match:
- Immediate Protection: The "Automatic Stay" takes effect the moment you file, making it illegal for creditors to contact or harass you
- Debt Elimination: Discharge most unsecured debts including:
- Credit card balances
- Medical bills
- Payday loans
- Repossession deficiencies
- Old utility bills
- Asset Protection: Keep your home, vehicle, and most personal property through Texas's generous exemption laws
- Quick Resolution: Complete the entire process in approximately 110 days—significantly faster than 5-year repayment plans
- No Debt Limits: There's no cap on the amount of debt that can be discharged (I've helped clients eliminate $1,000,000+ in debt)
- Peace of Mind: Stop worrying about mounting interest rates and collection calls
The Chapter 7 Bankruptcy Timeline
- Pre-Filing Preparation (1-2 weeks)
- Complete the required Credit Counseling Course from an approved provider
- Gather necessary financial documents
- Meet with our team to prepare your petition
- Filing Day
- Your bankruptcy petition is filed with the court
- The Automatic Stay begins, stopping all collection activity immediately
- Meeting of Creditors (Approximately 45 days after filing)
- Brief meeting with the bankruptcy trustee
- Typically lasts only 5-10 minutes
- Creditors rarely attend
- Financial Management Course
- Complete the required second course from an approved provider
- Discharge (Approximately 60 days after your Meeting of Creditors)
- Receive your official discharge order from the court
- Your qualifying debts are legally eliminated
- Begin your fresh financial start
Why Choose Matthew Wegner for Your Chapter 7 Bankruptcy Attorney?
As an experienced chapter 7 bankruptcy attorney serving the DFW area, Matthew provides personalized guidance through every step of the process. His clients appreciate his straightforward approach and dedication to making bankruptcy as stress-free as possible.
Ready to Take the First Step? Contact a Chapter 7 Bankruptcy Attorney Today
