Chapter 7 SIMPLE SOLUTIONS. STRAIGHTFORWARD LAW.

Chapter 7 Bankruptcy Lawyers

We Can Help You Get a Fresh Start on Your Finances

If you are struggling to repay your debts because you have insufficient funds or no income, then filing for Chapter 7 bankruptcy is an option you can use to take control of your situation. At Coeur D'Alene Bankruptcy & Tax Relief Center, our team of dedicated legal professionals is here to use our extensive resources and years of experience to guide clients throughout Idaho through each phase of the bankruptcy process. Reach out to our firm today so we can discuss your financial situation.

Why Do People File for Chapter 7 Bankruptcy?

Some of the most common reasons people decide to file for Chapter 7 bankruptcy include:

  • Unemployment
  • Substantial medical bills
  • Expensive divorce
  • Overextended credit
  • Unexpected expenses

How Does Chapter 7 Bankruptcy Work?

Chapter 7 bankruptcies are often called “liquidation” bankruptcies because that is the primary mechanism used to repay creditors. In Chapter 7 bankruptcy, the bankruptcy trustee will gather all of the non-exempt assets and sell them to pay the debt. The trustee can even impose a lien or mortgage on real estate property. Therefore, it is important to realize that a Chapter 7 bankruptcy will likely result in the loss of at least some personal property.

Additionally, a bankruptcy court will look at the debtor’s situation to see what type of debts led them to declare bankruptcy. If most of the debt is from credit card purchases or other types of consumer financing, then the debtor will have to prove that their bankruptcy claim is not abusing the system, otherwise, the case will be dismissed or converted to a Chapter 13 bankruptcy.

Advantages of Filing for Chapter 7 Bankruptcy

Although you might lose some of your property, at the end of the day, the purpose of bankruptcy is to help you to start over so you can rebuild your finances. After completing the Chapter 7 process, you will no longer need to worry about existing debts that have been discharged. A Chapter 7 bankruptcy also typically takes less time than a Chapter 13 bankruptcy because it doesn’t feature a payment plan or ongoing payments, which makes the process faster.

There are many steps in the Chapter 7 Bankruptcy process, from filing lists of assets and income to potential appearances before the court. The Bankruptcy Code itself is dense and contains numerous potential pitfalls. But the good news is that the seasoned legal team at Coeur D'Alene Bankruptcy & Tax Relief Center is here to assist with all of your Chapter 7 bankruptcy needs.

We Can Help You File for Chapter 7 Bankruptcy Today

We have years of experience navigating the bankruptcy courts and we’re ready to get to work on your case so we can advise the best course of action and help you make the right decisions that will protect your future.

Schedule your free consultation today by calling (208) 213-8127 or contact us online to tell us about your debt issues.

  • We feel more confident with all his advice!

    “We feel more confident with all his advice!”

    - Crystal H.
  • Highly Recommend

    “I loved how your hours were extended because I work past 6 so I was able to consult with you past 6 when I got off work.”

    - Michelle A.
  • The Greatest!

    “I can't say enough about how much they helped make a hard situation easier for me. Thank You”

    - Staci B.
  • Process Easy and Painless

    “Thank you Clint for all you and your staff have done for me!!!! I will recommend you to everybody!!!!”

    - Keely L.
  • Great Service

    “They literally took care of everything else for us. If I had known bankruptcy could be this easy I wouldn't have waited so long. Would definitely recommend them to anyone!”

    - Marissa G.
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