About Chapter Seven

Chapter 7 of the United States Bankruptcy Code is commonly known as a liquidating bankruptcy, personal bankruptcy, straight bankruptcy, or just bankruptcy. Chapter 7 wipes out many of your debts instantly and allows you to keep limited amounts of your property.

In most cases it stops garnishments, lawsuits, and harassment permanently. It also stops repossessions and foreclosures temporarily, but in many cases, not permanently. Chapter 7 is a good solution for medical bills, credit card debts, some old taxes, and many other unsecured debts.

Chapter 7 usually takes three to five months from the date of filing to the final discharge. You can file only once in six years.

At filing, the individual provides a list of all assets and obligations. A bankruptcy trustee goes over the list and decides whether to sell any unprotected assets to pay outstanding debts. Creditors can object on several grounds, including sudden disappearance of assets and lies in the bankruptcy filing.

If you file a chapter 7 bankruptcy, you will present a list of all assets and obligations to the bankruptcy trustee. The trustee decides whether to sell any unprotected assets to pay debts. But Chapter 7 won't make all debts go away. You will still have to repay:

  • Most student loans
  • Child support
  • Criminal fines, fees, and restitution
  • Alimony
  • Any debts incurred through fraud
  • Debts on assets that you plan to keep (like a home or a car).

Ted Machi is Board Certified* in Consumer Bankruptcy law by the Texas Board of Legal Specialization. For over thirty years, he has helped the little guy in the DFW metroplex through effective, determined, professional representation.

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Why Hire Us

You should choose your attorney based on your ability to work with the attorney and the attorney's skill and knowledge in the area that you require assistance. When you meet us, you'll like us, and our skill and knowledge are matched by few DFW Bankruptcy Lawyers. When choosing your bankruptcy attorney, consider the following about Ted Machi & Associates, P.C.

  • FREE Consultation - Your first meeting with us is absolutely FREE, and you make no commitments by just meeting with us. Come in for some candid advice, or try our FREE on-line bankruptcy evaluation.
  • 30 Years of Experience - Ted Machi & Associates, P.C. has served the North Texas community for over thirty years. We are dedicated to the needs of people like you. We have seen a lot of client and bankruptcy issues over those years. There are few Dallas bankruptcy attorneys or Fort Worth bankruptcy lawyers that can match our thirty years of successful client relationships.
  • Certified Bankruptcy Attorney - Ted Machi is Certified in Consumer Bankruptcy by the Texas State Board of Legal Specialization.* He understands more than the surface of bankruptcy law, and his thirty years of experience in North Texas provide him with the ability to address your case with the background and expertise that it deserves.
  • We Understand What You are Going Through - We understand the tough times you are going through. We understand the frustration and sometimes shame when you can not repay the debts you honestly intended to repay. We understand that a tough economy makes getting back on your feet again frustrating.
  • Candid Advice - expect more than a sales pitch from our team. We will guide you to making your own decision about what is best for you. We may recommend Chapter 7 bankruptcy. We may recommend Chapter 13 bankruptcy. We may recommend that you do not file bankruptcy.
  • Free Credit Reports - If you are our client, we'll provide all of your credit and public records reports for you.
  • Complete Court Representation - We won't send you off to court alone. We'll be there by your side from start to finish with thirty years of experience representing North Texans like you.

Problems Other than Bankruptcy

Our firm has attorneys who work in areas other than bankruptcy. Our firm handles a variety of legal problems for people like yourself. If you have another legal matter, such as deceptive trade, nursing home neglect, products liability, health or auto insurance denial or questions about personal injuries, we can help