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Category Archives: Chapter 7

Financial Distress and Chapter 7 Bankruptcy

Financial Distress and Chapter 7 Bankruptcy

By Mike Wallace, Bankruptcy Attorney, serving clients in all of East Texas, including Lufkin, Nacogdoches, Palestine, Jacksonville and other surrounding communities Chapter 7 bankruptcy, sometimes called liquidation bankruptcy, is generally intended for those persons who have unsecured debt and qualify for relief under the current bankruptcy law. The term liquidation bankruptcy is for the most… Continue Reading

Basics of Chapter 7 Bankruptcy Filing

Basics of Chapter 7 Bankruptcy Filing

By Mike Wallace, Bankruptcy Attorney, serving clients in all of East Texas, including Lufkin, Nacogdoches, Palestine, Jacksonville, Tyler and other surrounding communities I have previously outlined the basics of Chapter 13 bankruptcy filing, so I am going to give an illustration that might help someone understand Chapter 7 bankruptcy. First, Chapter 7 bankruptcy is means… Continue Reading