Chapter 7 is sometimes called a "straight" bankruptcy. It instantly stops hostile creditor actions against you. It is used to wipe out unsecured debts like credit cards, repossessions, medical debt and tax debt that is over three years old without any payment. In most cases, you may exempt property that you own so that you do not lose your possessions, and you may continue to pay for your house, cars, or furniture at your option.
H. Brooks Cotten and Gina Karrh have over 30 years combined experience and are licensed in California, Alabama and Georgia.