Chapter 7 Bankruptcy is more commonly known as "straight bankruptcy" or "liquidation bankruptcy". This type of bankruptcy is the most popular type of proceeding for individuals. The main concept behind this type of bankruptcy is that assigned trustee given by the bankruptcy court will sell all the person's belongings and use the proceeds to pay debts. However, in real practice, the individuals who are filing for a Chapter 7 Bankruptcy petition get to keep all their belongings due to the availability of exemptions that protect those belongings. To qualified for Chapter 7 Bankruptcy, the person must have received a credit counseling briefing before filing for bankruptcy by an approved agency.

Closer: The Law Offices of Dennis R. Wheeler is committed to providing their client's with aggressive advocacy and knowledgeable support they need to get back on their feet. Their principal attorney Dennis Wheeler has expertise in both Chapter 7 & 13 Bankruptcy matters and his accomplishments are recognized by his satisfied customers. Based in San Francisco, he has covered client's around the counties throughout the Bay Area.

For more, visit: http://www.dwheelerlaw.com/san-francisco-chapter-7-bankruptcy.