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Chapter 7 bankruptcy with an experienced bankruptcy lawyer can provide a debtor with a “fresh start” by discharging most of his or her debts. Filing for chapter 7 may be the right solution for you if you are overwhelmed with bills especially since this option is relatively fast, effective, easy to file and does not require payments over time. This is especially true for our clients who are retired or considering retirement and living on a fixed income. Chapter 7 bankruptcy is typically filed when you have few assets. Chapter 7 may not be the best option if you own a home or a valuable car, particularly if these assets can be seized by the Bankruptcy Trustee. The Bankruptcy Trustee can sell your property to help pay off your creditors even though, after filing for chapter 7, most all of your unsecured debt will be eliminated. While chapter 7 may seem appealing in order to eliminate debt, it may have the unintended effect forcing you to surrender valuable property that you own. During the initial consultation we will review your overall financial situation, particularly your debts compared to the property your own. We will also help you determine which property (if any) you are willing to surrender in order to have a fresh start. This will strongly determine chapter 7 is best for you. If you do file for chapter 7, you are only required to attend court once at what is commonly referred to as a 341 Meeting of Creditors. At the 341 Meeting of Creditors, the Law Office of Talbot & Talbot will represent you in front of both the Bankruptcy Trustee and any creditors. After the 341 Meeting of Creditors, your chapter 7 will discharge your debts and you will be free from debt. After attending the 341 Meeting of Creditors, you may or may not be required to surrender certain property to a given creditor (the Law Office of Talbot & Talbot will prepare you in advance regarding decisions to made in respect to surrendering property and keeping assets). After this occurs, you will start rebuilding your credit and will be required to go through credit counseling as required by the new bankruptcy laws.