Chapter 7 Bankruptcy Process | Chapter 7 Bankruptcy Lawyer

A Chapter 7 Bankruptcy is what most people think of when they hear the word bankruptcy. Chapter 7 Bankruptcy eliminates your dischargeable debts. In most cases, individuals filing for bankruptcy do not lose any of their property since such property is typically protected by Texas law and federal law exemptions.

At Watson Law Firm., our staff generally follow the process listed below, which allows multiple team members to work together to assist in the preparation and review of your case.

Our First Meeting(Review of Financial Position)

At this meeting, your financial situation is examined in depth and you will be provided with substantial information. As such, we prefer that both spouses attend (even though only one spouse may ultimately file). You will learn about different types of bankruptcies, procedures for filing, as well as the advantages and disadvantages involved with each. You will be provided with a list of options along with our recommendation based on your situation. We may be able to present you with other alternatives to bankruptcy.

Our Second Meeting(Final Review)

At this second appointment, only one spouse needs to attend. This appointment is usually held within 7 days of Our First Meeting. At this appointment, we will ensure that we have everything needed to file your case.

Our Third Meeting (Signing)

Depending on the urgency of your case, this appointment is typically held 2 to 15 days following Our Second Meeting. Both spouses, if married and filing jointly, will need to attend and sign the petition. Once completed, our office will file your official bankruptcy request with the local court. At that time, you are immediately afforded the full force and protection against foreclosures, lawsuits, repossessions, and creditor harassment provided by federal law.

In a standard case, approximately 2-3 months following the filing of your original bankruptcy case paperwork, you will receive a discharge. This means that you will no longer have any legal obligation to repay the discharged debts.

Interested in filing Chapter 13 Bankruptcy? See the Chapter 13 Bankruptcy Process or contact us today to ask our lawyers which option is best for you.