One of the most common types of bankruptcy is Chapter 7. Chapter 7 is considered a “liquidation case” or in other terms, a “straight bankruptcy.” By liquidating non-exempt property, the debtor will receive a forgiveness of all debt that can be forgiven under applicable law, otherwise known as a discharge. as permissible by law. Nearly all Chapter 7 debtors are entitled to retain at least some amount of their property.


What Are My Benefits Filing Chapter 7 Bankruptcy?

In addition, Chapter 7 also provides the benefits of the automatic stay, which is an injunction that prohibits creditors from bringing or continuing collection actions. Other benefits may also include:

  • Stopping wage garnishment.
  • Preventing eviction.
  • Putting an end to creditors’ harassing phone calls and letters, billing, and lawsuits pending against you.

 

The goal of Chapter 7 bankruptcy is to give the debtor a new start by discharging debts by including credit card loans, medical bills, and unsecured loans.


 

Begin Again and Call Today To Ensure a Secure Financial Future!

As an experienced bankruptcy attorney and litigator, I can help to guide you to a path of financial stability and a new beginning. Our goal is to provide exceptional service and superior results for every client. Call today for a free consultation and see if bankruptcy is right for you. Don’t go at it alone and seek the help you deserve!

For more information on how to contact us, please visit our Contact Page.

LinkedIn