FILING BANKRUPTCY CHAPTER 7 IN TEXAS

INTRODUCTION

Chapter 7 of the Bankruptcy Code is available to individuals, partnerships and corporations. 11 U.S.C. § 109(b). The purpose of chapter 7 is to provide the honest individual debtor with a “fresh start” by discharging most, if not all, of the debtor’s debts. A chapter 7 discharge is available only to individuals and not to partnerships or corporations. 11 U.S.C. § 727(a)(1). Although most individual chapter 7 cases result in a discharge of all debts, some types of debts are not discharged (i.e. student loans and certain taxes). Moreover, some individual chapter 7 bankruptcy cases run the risk of dismissal if the Office of the United States Trustee believes the debtor’s net disposable income is sufficient to fund a chapter 13 plan.

THE PROCESS FOR FILING CHAPTER 7 BANKRUPTCY IN TEXAS

A chapter 7 bankruptcy case begins with the filing of a petition for relief pursuant to the United States Bankruptcy Code (the “bankruptcy petition”). 11 U.S.C. § 301(a). The bankruptcy petition is filed with the Bankruptcy Court in the district where the individual lives or where the business debtor has its principal place of business or its principal assets. The debtor, in addition to the bankruptcy petition, must also file schedules listing all assets and all debts, an income and expense report, and a statement of financial affairs. Federal Rules of Bankruptcy Procedure 1007(b). Married persons may file a joint bankruptcy petition or one or both spouses may file individual bankruptcy petitions. 11 U.S.C. § 302(a). Joint petitioners pay only one filing fee.

Once a bankruptcy case is filed, most creditor actions against the debtor and the debtor’s property are enjoined pursuant to the “automatic stay” provisions of the Bankruptcy Code. 11 U.S.C. § 362(a). This stay arises by operation of law and requires no additional judicial action. While the stay is in effect, creditors cannot initiate or continue lawsuits, repossessions, or wage garnishments.

Once a bankruptcy case is filed, most creditor actions against the debtor and the debtor’s property are enjoined pursuant to the “automatic stay” provisions of the Bankruptcy Code. 11 U.S.C. § 362(a). This stay arises by operation of law and requires no additional judicial action. While the stay is in effect, creditors cannot initiate or continue lawsuits, repossessions, or wage garnishments.

Once a bankruptcy case is filed, most creditor actions against the debtor and the debtor’s property are enjoined pursuant to the “automatic stay” provisions of the Bankruptcy Code. 11 U.S.C. § 362(a). This stay arises by operation of law and requires no additional judicial action. While the stay is in effect, creditors cannot initiate or continue lawsuits, repossessions, or wage garnishments.

Once a bankruptcy case is filed, most creditor actions against the debtor and the debtor’s property are enjoined pursuant to the “automatic stay” provisions of the Bankruptcy Code. 11 U.S.C. § 362(a). This stay arises by operation of law and requires no additional judicial action. While the stay is in effect, creditors cannot initiate or continue lawsuits, repossessions, or wage garnishments.

Once a bankruptcy case is filed, most creditor actions against the debtor and the debtor’s property are enjoined pursuant to the “automatic stay” provisions of the Bankruptcy Code. 11 U.S.C. § 362(a). This stay arises by operation of law and requires no additional judicial action. While the stay is in effect, creditors cannot initiate or continue lawsuits, repossessions, or wage garnishments.

CHAPTER 7 TRUSTEE

Once a bankruptcy case is filed, most creditor actions against the debtor and the debtor’s property are enjoined pursuant to the “automatic stay” provisions of the Bankruptcy Code. 11 U.S.C. § 362(a). This stay arises by operation of law and requires no additional judicial action. While the stay is in effect, creditors cannot initiate or continue lawsuits, repossessions, or wage garnishments.

Once a bankruptcy case is filed, most creditor actions against the debtor and the debtor’s property are enjoined pursuant to the “automatic stay” provisions of the Bankruptcy Code. 11 U.S.C. § 362(a). This stay arises by operation of law and requires no additional judicial action. While the stay is in effect, creditors cannot initiate or continue lawsuits, repossessions, or wage garnishments.

Once a bankruptcy case is filed, most creditor actions against the debtor and the debtor’s property are enjoined pursuant to the “automatic stay” provisions of the Bankruptcy Code. 11 U.S.C. § 362(a). This stay arises by operation of law and requires no additional judicial action. While the stay is in effect, creditors cannot initiate or continue lawsuits, repossessions, or wage garnishments.

DISCHARGE

Once a bankruptcy case is filed, most creditor actions against the debtor and the debtor’s property are enjoined pursuant to the “automatic stay” provisions of the Bankruptcy Code. 11 U.S.C. § 362(a). This stay arises by operation of law and requires no additional judicial action. While the stay is in effect, creditors cannot initiate or continue lawsuits, repossessions, or wage garnishments.

Once a bankruptcy case is filed, most creditor actions against the debtor and the debtor’s property are enjoined pursuant to the “automatic stay” provisions of the Bankruptcy Code. 11 U.S.C. § 362(a). This stay arises by operation of law and requires no additional judicial action. While the stay is in effect, creditors cannot initiate or continue lawsuits, repossessions, or wage garnishments.

Once a bankruptcy case is filed, most creditor actions against the debtor and the debtor’s property are enjoined pursuant to the “automatic stay” provisions of the Bankruptcy Code. 11 U.S.C. § 362(a). This stay arises by operation of law and requires no additional judicial action. While the stay is in effect, creditors cannot initiate or continue lawsuits, repossessions, or wage garnishments.

Once a bankruptcy case is filed, most creditor actions against the debtor and the debtor’s property are enjoined pursuant to the “automatic stay” provisions of the Bankruptcy Code. 11 U.S.C. § 362(a). This stay arises by operation of law and requires no additional judicial action. While the stay is in effect, creditors cannot initiate or continue lawsuits, repossessions, or wage garnishments.

Once a bankruptcy case is filed, most creditor actions against the debtor and the debtor’s property are enjoined pursuant to the “automatic stay” provisions of the Bankruptcy Code. 11 U.S.C. § 362(a). This stay arises by operation of law and requires no additional judicial action. While the stay is in effect, creditors cannot initiate or continue lawsuits, repossessions, or wage garnishments.

SECURED CREDITORS

Once a bankruptcy case is filed, most creditor actions against the debtor and the debtor’s property are enjoined pursuant to the “automatic stay” provisions of the Bankruptcy Code. 11 U.S.C. § 362(a). This stay arises by operation of law and requires no additional judicial action. While the stay is in effect, creditors cannot initiate or continue lawsuits, repossessions, or wage garnishments.

Once a bankruptcy case is filed, most creditor actions against the debtor and the debtor’s property are enjoined pursuant to the “automatic stay” provisions of the Bankruptcy Code. 11 U.S.C. § 362(a). This stay arises by operation of law and requires no additional judicial action. While the stay is in effect, creditors cannot initiate or continue lawsuits, repossessions, or wage garnishments.

Once a bankruptcy case is filed, most creditor actions against the debtor and the debtor’s property are enjoined pursuant to the “automatic stay” provisions of the Bankruptcy Code. 11 U.S.C. § 362(a). This stay arises by operation of law and requires no additional judicial action. While the stay is in effect, creditors cannot initiate or continue lawsuits, repossessions, or wage garnishments.