Chapter 7 Bankruptcy Law

Chapter 7 is the most common form of bankruptcy. It is a liquidation proceeding in which the debtor's non-exempt assets, if any, are sold by the Chapter 7 Trustee and the proceeds are distributed to creditors according to the priorities established in the Bankruptcy Code.

One of the primary purposes of a Chapter 7 bankruptcy is to discharge certain debts in order to give an honest individual a "fresh start". The bankruptcy discharge has the effect of extinguishing the debtor's personal liability on dischargeable debts. Although the filing of an individual Chapter 7 petition usually results in a discharge of debts, an individual's right to a discharge is not absolute, and some types of debts are not dischargeable, i.e., past-due child support, student loans and certain income taxes.

Chapter 7 is available to individuals, married couples, corporations and partnerships. Debtors are required to attend a meeting of creditors approximately five weeks after the filing of the case. The case is usually discharged (completed) within four months of filing the case.

The Law Office of EBER N. BAYONA will be with you every step of the way through the bankruptcy process. We draft all of the documents for you and do not require you to fill out lengthy applications or forms. We provide representation at the meeting of creditors and will guide you in the right direction upon the discharge of your case.

What We Need From You:

1. CLIENT must download and complete a Client Intake Form.
Must have Adobe Reader, please click on logo to download.

2. CLIENT must complete the Credit Counseling Requirement.
3. CLIENT must complete Client Intake Forms provided by Attorney.
4. CLIENT is responsible for providing the following documents:

        • 6 months of paycheck stubs from debtor(s)
        • Copies of titles to all motor vehicles
        • Recorded mortgage and Deed for all property
        • Copies of any lawsuits filed within the past (2) years
        • Copies of all life insurance policies owned by debtor(s) (if applicable)
        • Federal income tax returns for past two (2) years
        • Separation agreements or decrees of dissolution or divorce within the past one (1) year
        • (if applicable)
        • All documents relating to retirement accounts (if applicable)
        • Security agreements, financing statements and personal property leases
        • Stock certificates, bonds. Credit union and/or passbook savings accounts. Statements
        • evidencing investments or savings. (if applicable)
        • Evidence of value of real estate (i.e.; appraisal dated no later than one (1) year prior to
        • filing bankruptcy
        • Documents verifying debtor(s) interest in any future property