Are you drowning in debt with no clear path forward? Chapter 7 bankruptcy may provide the fresh start you need. At Ware Law Firm, our experienced Mississippi bankruptcy attorneys help individuals and families eliminate overwhelming debt through Chapter 7 bankruptcy protection, allowing them to rebuild their financial future.
Filing Chapter 7 Bankruptcy in Mississippi
Chapter 7 bankruptcy, often called “liquidation bankruptcy” or “fresh start bankruptcy,” allows qualifying individuals to eliminate most unsecured debts while potentially keeping their essential property through exemptions. This powerful legal tool can provide immediate relief from crushing debt and stop harassing creditor calls.
Key Benefits of Chapter 7 Bankruptcy
- Quick Debt Relief: Most Chapter 7 cases complete within 4-6 months
- Immediate Protection: Automatic stay stops collections, lawsuits, and garnishments
- Debt Elimination: Discharge most unsecured debts like credit cards and medical bills
- Keep Essential Property: Mississippi exemptions protect many important assets
- End Creditor Harassment: Stop collection calls and creditor communication
- Wage Protection: Stop wage garnishments and bank account levies
- Fresh Financial Start: Opportunity to rebuild credit and start over
- Peace of Mind: Relief from the stress of overwhelming debt
Types of Debt Chapter 7 Can Eliminate
Dischargeable Debts
- Credit card debt
- Medical bills
- Personal loans
- Old utility bills
- Business debts
- Collection accounts
- Past-due rent
- Civil judgments (unless based on fraud)
- Some older tax debts
Non-Dischargeable Debts
- Recent tax debts
- Student loans (with rare exceptions)
- Child support and alimony
- Court-ordered restitution
- Debts obtained through fraud
- Government fines and penalties
- Most HOA dues
Who Qualifies for Chapter 7 Bankruptcy in Mississippi?
Income Requirements
- Pass the “means test” based on Mississippi income limits
- Have income below the state median for your household size, or
- Show insufficient disposable income after allowed expenses
Other Requirements
- Complete credit counseling from an approved agency
- Not have filed Chapter 7 in the last 8 years
- Not have had a bankruptcy dismissed in the last 180 days
- Provide accurate financial information
- Disclose all assets and debts
The Chapter 7 Bankruptcy Process
1. Free Initial Consultation
Meet with our experienced bankruptcy attorneys to:
- Review your financial situation
- Determine bankruptcy eligibility
- Discuss available options
- Understand the process
- Get answers to your questions
2. Credit Counseling
Complete required pre-filing credit counseling with an approved agency. We’ll help you:
- Find an authorized provider
- Complete the course efficiently
- Obtain your completion certificate
- Meet all requirements
3. Document Preparation
We’ll help you gather and prepare all necessary documentation:
- Income verification
- Tax returns
- Bank statements
- Property records
- Creditor information
- Asset listings
- Monthly expenses
4. Filing the Petition
Our team will:
- Prepare your bankruptcy petition
- Review all documents for accuracy
- File with the bankruptcy court
- Obtain your case number
- Activate automatic stay protection
5. Meeting of Creditors
Attend the required 341 meeting where:
- Trustee reviews your case
- Creditors may ask questions
- Our attorneys represent you
- We handle any issues
- Process moves forward
6. Financial Management Course
Complete the required debtor education course:
- Learn financial management skills
- Meet discharge requirements
- Prepare for post-bankruptcy success
- Get course completion certificate
7. Discharge
Receive your discharge order:
- Most debts eliminated
- Fresh financial start
- Freedom from creditor harassment
- Opportunity to rebuild
Mississippi Bankruptcy Exemptions
Homestead Exemption
- Up to $75,000 equity in your primary residence
- Protection for mobile homes
- Applies to married couples jointly
Personal Property Exemptions
- Up to $10,000 in household goods
- Personal injury claims up to $10,000
- Tools of trade up to $5,000
- Jewelry up to $1,000
- Life insurance proceeds
- Retirement accounts
Vehicle Exemption
- Up to $7,500 equity in one vehicle
- Protection for work-related transportation
- Option to pay excess equity
