What are the advantages of filing Chapter 7?
If you do not own a lot of assets, Chapter 7 can wipe out your debt without a lot of loss. There is no minimum debt required to file for Chapter 7 bankruptcy. Creditors will no longer have a claim on you. Once your debt is discharged, your possessions obtained after discharge and your wages are clear of any claim. The Chapter 7 process is fast, and your debts are discharged quickly, in as little as four to six months. At the Texas law firm of Bailey & Galyen, our attorneys can answer your questions and offer legal explanations for aspects of bankruptcy that are difficult to understand or may cause confusion.
