Chapter 7 Personal Bankruptcy

Bona Fide Bankruptcy Attorneys, PLLC

For a Financial Fresh Start

During your FREE Confidential Consultation, your attorney will answer of your questions about all the services we offer to protect your assets and reduce your debts.

Chapter 7 Personal Bankruptcy

The primary purpose of a Chapter 7 Personal Bankruptcy is to discharge certain debts and to give an honest individual a “fresh start.”

As soon as the bankruptcy petition is filed, the court places an automatic temporary stay on current debts and stops creditors from collecting payments, garnishing wages, foreclosing on a home, repossessing property, evicting the debtor, or turning off their utilities.

Next, the court will take legal possession of the debtor’s property and appoint a trustee to administer the case. The trustee will set up a meeting of creditors where the debtor will answer questions about their debts and the nature of their property. The debtor is allowed to keep certain “exempt” property. Then, the trustee will use the debtor’s nonexempt assets to pay the creditors (holders of claims) in accordance with the provisions of the Bankruptcy Code. Most of the remaining debts will be discharged, with a few exceptions.

A Chapter 7 bankruptcy is the simplest, quickest, and most common form of bankruptcy, typically taking between 3 to 6 months to complete.  

Bona Fide Bankruptcy Attorneys, Canceled by Covid, 12-2020

The Wedding Planner and Covid-19

Three years ago Jane quit her job as an event specialist for a local venue here in Phoenix and used her savings to say goodbye

Bona Fide Bankruptcy Attorneys, PLLC - The Artist, Deposit Disputes, and Covid-19

The Artist, Deposits, and Covid-19

Does an event planner, caterer, DJ, officiant, musician, or other artist have to return a deposit from an event canceled because of Covid-19? That depends

CARES Act Bankruptcy

The CARES Act and Bankruptcy

The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was enacted on March 27, 2020 to help consumers and businesses weather the economic storm