Chapter 7 Bankruptcy
Chapter 7 Bankrutpcy is for Debtors with Average to Low Income
Bankruptcy puts an immediate end to the financial stresses caused by debt. Upon filing of a Chapter 7 Bankruptcy the automatic stay goes into affect, meaning creditors can no longer attempt to collect on your debt. The automatic stay requires the creditors to stop calling you or even send you a bill. The filing of a bankruptcy protects you from your creditors as soon as it is filed with the bankrutpcy court. When you file for Chapter 7 bankruptcy, the court places an automatic temporary stay on your current debts. This stops creditors from collecting payments, garnishing wages or repossessing property
Filing for Chapter 7 bankruptcy can be the last resort if you're far behind on your bills and don't have enough money to make monthly payments. Filing would clear away unsecured debts like credit cards, medical expenses owed etc.
When you schedule a FREE phone consultation with me, I'll discuss the differences between Chapter 7 Bankruptcy and Chapter 13 Bankruptcy. During our discussion it is my goal to make sure I understand the details of your specific financial situation so I can explain your options and which option best suits your needs Chapter 7 Bankrutpcy or Chapter 13 Bankruptcy.
When Clients first contact my office they are usually overwhelmed by the stress put on them by their finances and debt. Chapter 7 Bankruptcy is the perfect option to put an immediate stop to the Stress.
Credit Card Debt is a leading cause of Clients consideirng to file bankruptcy, when you can barely make the minimum payments it is time to start considering filing for Chapter 7 Bankruptcy
Phone calls from creditors can be relentless when you can not pay your debts. Filing Chapter 7 Bankruptcy puts an immediate stop to the phone calls. Your phone will stop ringing from your creditors.
It is hard enough paying your debts but when a wage garnishment occurs it becomes nearly impossible. Filing Chapter 7 Bankruptcy can put an immediate stop to a wage garnishment.
If you can not get to work you can not pay your bills, so keeping a working car is a necessity to survive. If you have gotten behind on car payments Chapter 7 Bankruptcy can stop a car repossession.
The IRS can be the toughest creditor. It is a little known secret that bankruptcy can stop, restructure, and in some instances even eliminate credit card debt. This is one of the more powerful advantages of Chapter 7 Bankruptcy.