What Is Chapter 7 Bankruptcy?

Chapter 7 is one of the most common types of consumer bankruptcy. It allows those who cannot pay their debts to get a fresh financial start. Once you file bankruptcy, creditors have to stop garnishing your wages. They can no longer harass you or attempt to collect on the debts you owe. After successfully completing Chapter 7, all of your qualifying debts will be wiped away.

Who Qualifies For Filing Chapter 7?

Not everyone can file under Chapter 7. Those who qualify must meet certain income guidelines. In general, you must not have filed Chapter 7 bankruptcy in the last six to eight years (although you might still qualify for Chapter 13).

How Long Does Chapter 7 Take?

Unlike Chapter 13, which takes years to complete, Chapter 7 bankruptcy is relatively swift. You can generally get rid of your debts within a matter of months. However, the process is confusing. It's important to get professional legal guidance so you can avoid pitfalls and make the most of your rights.

Read more about what not to do when you're considering bankruptcy.

Make The Right Decision

It's important to consult with a knowledgeable Minnesota attorney to determine whether you're eligible for Chapter 7 — and whether it's the best course of action for you. At Milavetz, Gallop & Milavetz, P.A., our attorneys will be happy to sit down with you and talk through your options during a free consultation.

We understand that debt is stressful. We'll work hard to free you from financial struggles through whatever course of action is right for your situation. Our lawyers can help you prioritize your goals and pursue a more stable financial future.

Our firm is built on a decades-long legacy of standing up for the rights of people like you.

Schedule A Private Consultation

Contact our firm online or call 612-444-5604 for more information. We have offices throughout the Twin Cities, and we serve clients statewide.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.