Chapter 7 Bankruptcy

Filing for Chapter 7 Bankruptcy is an option for individuals, couples, businesses and corporations to discharge most (if not all) of their debt. Also known as liquidation bankruptcy or straight bankruptcy, Chapter 7 Bankruptcy offers many a fresh start and stops the endless harassment from creditors.

Those who file for Chapter 7 Bankruptcy are able to alleviate their debt problems, and it can allow you to:

  • Discharge – Wipe Out – Most of (if not all) Debts
  • Stop Wage Garnishment, Tax Refund Garnishment & Bank Account Garnishment
  • Avoid Foreclosure
  • Stop Collection Lawsuits
  • Stop Harassment from Creditors
  • Stop Collection Attempts

Filing for Chapter 7 Bankruptcy

When you file for Chapter 7 Bankruptcy, you are allowed to keep all exempt property, under state and federal law. Non-exempt property may be liquidated to pay off debt owed to creditors. Most Chapter 7 Bankruptcy cases are non-asset cases, and debtors are able to wipe out all dischargeable debt without having to liquidate any assets.

Once Chapter 7 Bankruptcy is filed, creditors have no legal ability to pursue you for collections. You are allowed to keep some of your debt in Chapter 7 Bankruptcy, such as your house mortgage or car loan.

In Chapter 7 Bankruptcy cases, a trustee is appointed by the Bankruptcy Court to administer each case. The trustee will then examine all of your assets and income at the Creditors Hearing. The trustees may seize some non-exempt property to pay off debt. Having an experienced bankruptcy attorney will help guide you through this process and protect your assets.

Find a Chapter 7 Bankruptcy Lawyer

Eliminate your dischargeable debt and protect your exempt assets by finding a Chapter 7 bankruptcy lawyer with experience.

Our skilled team of bankruptcy attorneys can help you through the process of filing for Chapter 7 Bankruptcy. In most bankruptcy cases, dischargeable debt is wiped away in four to five months.

Offer yourself a fresh start – free from debt. Call us today at (734) 397-4540, or contact us online for a free bankruptcy attorney consultation.

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