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E-Mail: JerryMelton@jerrymelton.com

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Chapter 7 Bankruptcy (Texas)

Chapter 7 bankruptcy is a liquidation proceeding. The debtor turns over all non exempt property to the bankruptcy trustee, who then converts it to cash for distribution to the creditors. The debtor receives a discharge of all dischargeable debts. 

To file a Chapter 7 bankruptcy:

• You must reside or have a domicile, a place of business, or property in the United States or a municipality. 

• You must not have been granted a Chapter 7 discharge within the last 6 years or completed a Chapter 13 plan. 

• You must not have had a bankruptcy filing dismissed for cause within the last 180 days. 

• It must not be a "substantial abuse" of Chapter 7 to grant the debtor relief.  IE: if after you pay the monthly expenses for necessities there is not enough money to pay the remaining monthly debts, then granting a discharge would not be an abuse of Chapter 7. 

• It would not be fundamentally unfair to grant the debtor relief under Chapter 7.\

The most common reasons for consumer bankruptcy are: 

• Unemployment 

• Large medical expenses 

• Seriously over extended credit 

• Marital problems 

• Large unexpected expenses 

If you have questions about Bankruptcy matters, please do not hesitate to 
contact Jerry Melton.