Chapter 7 Bankruptcy

Chapter 7 Bankruptcy Attorney in Jackson, Mississippi

If you find yourself drowning in debt, you may be feeling frustrated, exhausted, anxious, and much more. Maybe you want to get rid of as many possible debts as soon as possible, or maybe you want to keep your most important assets or reorganize assets. No matter what your needs, expectations, or goals are, it’s essential you understand your options.  

For many, Chapter 7 bankruptcy helps them reach financial freedom. At The Law Offices of Wes Stover, our attorney helps those in the Jackson, Mississippi, area decide if Chapter 7 is the right option for them—and if not, we guide you toward what will help you reach your goals. No matter who you are or what your situation is, don’t face your overwhelming debt alone. Reach out to us today for help.

Call The Law Offices of Wes Stover today at (601) 401-8996 or contact us online to schedule a free consultation.

What Is Chapter 7 Bankruptcy? 

In general, Chapter 7 is good for individuals and small businesses looking to completely get rid of their debt. It is also known as “liquidation bankruptcy”, which means that assets or property is sold into cash or cash equivalent to pay off debts.  It is fairly quick compared to other options and can eliminate debts almost immediately. And it is relatively cheap—its filing fees cost $388, and if you aren’t able to afford it, the option to pay in installment fees is available. 

Please note: some people believe that Chapter 7 leaves you with nothing. This is not the case. Just as in most cases, you will be able to hold onto your major assets, such as your car and home. Everything is dependent on your situation, so get in touch with our Chapter 7 bankruptcy attorney for legal guidance on your specific circumstances. 

Qualifying for Chapter 7 Bankruptcy 

Qualifying gives you two main options. If your gross income is low, you’ll take—and likely pass—the Chapter 7 Bankruptcy Means Test, which is for those with consumer debts (not business debts). Essentially, it finds out how much disposable income you have. The higher the disposable income, the less likely it is that individuals qualify for Chapter 7. If you don’t qualify, however, you still have options. For example, Chapter 13 bankruptcy is a great option for those with higher income and assets, as well as those who want to keep all (or most) of their assets in repayment plans.  

Why Choose The Law Offices of Wes Stover?

  • Empowering Your Legal Journey
    We are more than a law firm; we're your partner in seeking a brighter future. We stand by your side, providing expert guidance through virtual consultations and direct attorney involvement. Your success is our mission.
  • Virtual Meetings, Real Solutions
    Embrace the convenience of virtual consultations. We understand the importance of accessibility. That's why we offer free virtual consultations, making it easier than ever to get the legal advice you need from the comfort of your own space.
  • Your Legal Ally for Over 30 Years
    Trust in a legacy of excellence. Our track record spans over 30 years, a testament to our unwavering commitment to achieving the best outcomes for our clients. Your legal journey deserves nothing less. Let's create a brighter future.
  • Direct Attorney Engagement
    Experience personalized legal support like never before. We believe in direct attorney-client collaboration. Your case matters, and our attorneys are here to work closely with you, ensuring your voice is heard and your needs are met.

Chapter 7 Bankruptcy Process 

Once you’ve decided chapter 7 is right for you, here are the steps you must take: 

If you haven’t already, contact an attorney. Having a skilled bankruptcy attorney on your side will make all the difference in understanding any important details.  

Complete a credit counseling course. This can be done by phone or in an online course. 

File bankruptcy forms. In these forms, you will generally include listing the property, creditors, all debts, and financial transactions from the past two years.  

Contact your bankruptcy trustee. They will ask for your most recently filed income tax return and may ask for other documents.  

Attend a creditor’s meeting. This generally is conducted by the bankruptcy trustee, who will ask you to answer any questions or provide additional information deemed necessary. You can have your attorney will you for this, but it isn’t required.  

Attend mandatory budget counseling and let the court know you took it. You should receive a certificate of completion when you complete it. 

Wait for the court to send you a written debt discharge. Before then, do not make any grand financial moves, such as business operations, selling or giving away inventory, or more.  

From the first step, until everything is finalized and signed, we are ready to help you make the right choices every step of the way.  

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Chapter 7 Bankruptcy Attorney in Jackson, Mississippi 

If you’re searching for financial relief in or around Jackson, Mississippi—including the surrounding areas of Jones County, Madison County, and Rankin County—look no further than The Law Offices of Wes Stover. We are more than prepared to answer your questions with experienced knowledge, guide you through the process every step of the way, advocate for you against creditors, and much more. Take control of your future by contacting us today. 

  • "My Case Was Never Overlooked"
    Through out the years, you all have been really helpful. Now that the end of this journey has ended, I would like to say "Thank you for being understanding and ensuring that my case was never overlooked"
    - Grover H.
  • "Professional, Kind and Courteous"

    Wes is very professional, kind and courteous. Of your feelings during this hard time in your life I really appreciate him.

    - Bobbye S.
Navigating Financial Challenges with Expertise

Turn to us for comprehensive legal support, especially when facing financial challenges. Our experienced bankruptcy attorneys specialize in guiding individuals and businesses through complex situations. If you're dealing with financial difficulties, don't hesitate to contact our dedicated bankruptcy attorney for a free virtual consultation.