Chapter 7 Bankruptcy

by Rozzy S. Marketing Analyst

Chapter 7 Cases Are Filed For The Purpose Of Eliminating Most, If Not All, Unsecured Debts. Chapter 7 Bankruptcy Can Be Filed Singularly (Whether Married Or Not) Or Jointly (Husband And Wife). Only Some Consumer Cases Qualify To File A Chapter 7. At Completion Of The Case, The Debtor Gets A Discharge, Which Means That The Debtor Does Not Have To Pay Certain Types Of Debts. Chapter 7 Takes About Four Months To Complete. Chapter 7 Is Also Filed By Corporations, Or Other Business Entities To Dissolve The Entity And Relieve The Owner Of The Burden Of Winding Down An Insolvent Business.

Chapter 7 Bankruptcy is for people with lots of unsecured debt they cannot pay. It gives you a fresh start and relieves you of the stress and strain of carrying a burden that you simply cannot carry. Most clients will qualify for a Chapter 7 Bankruptcy, if you do not qualify then a Chapter 13 might be an option. The automatic stay which begins as soon as you file your case will stop creditor harassment, foreclosures, repossessions, garnishments and other collection activities. We can file your case immediately if needed to protect you from your creditors or the government. Some debts are not dischargeable, such as student loans, domestic support obligation (Child Support), criminal fines and most tax obligations

An initial consultation with Bankruptcy attorney scheduled at his office will help you to receive information on the bankruptcy process and how it will apply to your individual circumstances. Should you file bankruptcy? Will it benefit you? Should I file Chapter 7 or 13 bankruptcy? These are all questions that can be addressed during your private one-on-one conversation with your attorney.