John M. Holstine, P.A.

Serving Central Arkansas for Over 30 Years

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Chapter 7 Bankruptcy

A Chapter 7 Bankruptcy is used to erase “discharge” unsecured debts like medical bills, credit cards, signature loans, as well as give back property without penalty, such as a vehicle that you are no longer able to afford.  A discharge is a court order which states that you do not have to pay most of your debts.  Some debts cannot be discharged.  For example, you cannot discharge debts for:

  • most taxes
  • child support
  • most student loans;
  • court fines and criminal restitution; and
  • personal injury caused by driving drunk or under the influence of drugs.
The discharge only applies to debts that were incurred prior to the date of bankruptcy filing.
There are income eligibility requirements in order to qualify for a Chapter 7.  

Contact John M. Holstine, P.A.

Bankruptcy law has many details.  Each state and federal law has different rules.  This makes an experienced bankruptcy attorney your best resource to fund the right bankruptcy chapter for you.  John M. Holstine, P.A. can help Arkansas residents with all their bankruptcy needs.  Call today to learn how we can help you make the best decision that is right for you.