Ways forward
Chapter 7 bankruptcy
Chapter 7 wipes out debts like credit cards, medical bills and personal loans, usually in about four months. You keep what the law protects, which for most people is nearly everything they own.
What to bring to the first talk
A rough list of who you owe
Your last two pay stubs
Any court papers or garnishment notices
What Chapter 7 does and doesn't do
What it clears
Credit cards, medical bills, old utility bills, payday and personal loans, and what's left after a car is repossessed.
What stays
Child support, most taxes from recent years, most student loans, and court fines. I'll say up front which of yours fall here.
Who it fits
People whose income is under a limit set by a means test, or whose expenses leave little each month. I run that test with you at the first talk.
Chapter 7 questions
How long does it take?
Most cases are finished about four months after filing. The part that needs you is a short meeting with the trustee about a month in.
Will I lose my things?
Most people don't. Exemptions protect a home up to a set amount, a car, household goods, tools for work and retirement accounts. We'll go through yours before anything is filed.
Do I need to take a class?
Yes, two short online courses: one before filing and one before the debts are cleared. I'll send you the links and they take an evening each.
Talk through Chapter 7 with Emmett
Thirty minutes, free, and nothing is filed without your yes.