Chapter 7 Bankruptcy

If you’re plagued by debt, filing Chapter 7 bankruptcy may be the most effective way to protect yourself from creditor harassment and start afresh.

The main goal of consumer bankruptcy is to grant relief to the debtor by preventing creditor collection and to discharge most consumer debts. A discharge is the elimination of a consumers legal obligation to pay his/her debts. Perhaps the most popular form of bankruptcy and most well known is a Chapter 7 bankruptcy. A Chapter 7 bankruptcy is known as “liquidation.” In a Chapter 7 bankruptcy a court appointed trustee determines if there are any non-exempt assets that are available to be sold for the benefit of the creditors. Typically, most debtors assets are considered exempt and thus cannot be sold for the benefit of creditors. Upon completion of a Chapter 7, the debtor is granted a discharge. A Chapter 7 discharge moves through the courts fairly quickly and a discharge can be granted after a few months.

Sky Law Group is a debt relief agency ready to help you file for bankruptcy and make the phone calls stop. We’ve helped numerous clients absolve themselves of debt and can do the same for you. Some advantages to filing Chapter 7 with Sky Law Group include:

  • Free Initial Consultation
  • Help analyzing your debt
  • Determining your property exemptions
  • Assuring your eligibility for Chapter 7
  • Reaffirming your secured debts
  • Assistance filing all the necessary Chapter 7 forms

Beyond guiding you through the Chapter 7 process, Sky Law Group will instruct you as to the best course of action. Chapter 7 isn’t for everyone, and there are numerous factors to consider. No matter your situation, you can always trust The Law Offices Of Shakeal Masoud to provide honest legal counsel that helps with your debt.

Don’t Let Debt Ruin Your Life; Get Your Debt Absolved With the Help of Sky Law Group.

To schedule a free consultation please call us today!

What to Bring to Your Appointment

(1) Please print out, fill out and bring your intake form – if you have/had a job, use this one. If you’re self-employed – use this one.

(2) Also please bring your Schedule I & J form, downloadable here.

(3) List of Required Documents (Fax to our office)

In order to properly process your case, all items need to be taken with you for your appointment. Please carefully read the list below and initial next to all items that you brought with you. We need all required documents within 48 hrs of the scheduled appointment. Failure to provide the requested information may result in bankruptcy not being filed or dismissed by the court.

  • A Copy of your current Driver’s license or State ID
  • A Copy of your Social Security Card
  • A Copy of your six (6) most current and consecutive pay stubs
  • A Copy of your six (6) most current bank statements
  • A Copy of your entire Tax Return for the current year or most recent filing
  • A Copy of your vehicle insurance “Declaration Page” and home insurance
  • A Copy of your monthly mortgage statement or coupon stub
  • A Copy of four (4) most current Social Security, AFDC, Aid, or Support Stmts
  • (Business or Self Employed) A Copy of your tax return statement for the last (4) years
  • (Business or Self Employed) A Copy of last six months of personal & business bank Stmts
  • (Business or Self Employed) A Profit and Loss Stmts for last six (6) months
  • (Business or Self Employed) DBA and/or Business License & Insurance
  • A Copy of contributing parties pay stubs to verify income

**Any credit card, medical, garnishments, lawsuits and/or collections account debt information (need name of creditor, address, ending balance, account number, type of credit and last purchase made.)**

Chapter 7 Bankruptcy Courses Before and After

It is important to remember that PRIOR to filing bankruptcy, you must take a credit counseling course and AFTER you file a debtor education course. These courses can be taken on the phone or internet and a link to each is provided below:

(1) Credit Counseling Course: http://www.moneymanagement.org
(2) Debtor Education Course: http://0worriesfinancial.com/index-2.html