Chapter 7 Bankruptcy

A Chapter 7 bankruptcy is a straight liquidation. Chapter 7 bankruptcy is ideal for people in these situations:

• Your household income is less than the median, or you can pass the means test
• You have primarily unsecured debt
• You wish to surrender a home or a vehicle that you can no longer afford
• You are current with your home or your vehicle, and you wish to keep them but get rid of all of your unsecured debt

When someone files a Chapter 7 bankruptcy, an automatic stay takes effect immediately, and any repossessions, foreclosures, and garnishments will immediately cease.

A bankruptcy attorney can review your income, assets, and debt and help you determine whether a Chapter 7 bankruptcy is right for you.

To schedule a consultation to discuss your situation with an attorney, Click Here.