Filing Chapter 7 bankruptcy is a form of debt relief that allows for you to “wipe out” the majority of your unsecured debt while protecting your assets. Chapter 7 gives you the fresh start on your financial life that so many desperately need. Many wonder what exactly a Chapter 7 bankruptcy does. Chapter 7 provides an individual the opportunity to “discharge” certain debts.  This “discharge” severs your liabilities on the debts to  your creditors.

Filing for Chapter 7 does not mean that you have to give up your belongings! All individuals have “exemptions” that protects their property from their creditors. There is no need to give up your home or car when you file for bankruptcy! However, if you do have equity an item that you own that is not protected by an exemption, that item may be sold and the resulting funds will be distributed to your creditors. Set up a free no obligation consultation with our knowledgeable staff today, and make sure that your assets remain yours!

Upon the filing of a Chapter 7 Bankruptcy, an “automatic stay” goes into effect, preventing your creditors from any and all forms of collection. This includes harassing phone calls, letters, reporting delinquencies to your credit bureau, wage assignments, legal complaints, citations to discover assets, wage garnishments, freezing bank accounts, filing liens against property, repossessions, and foreclosures. The process of the normal Chapter 7 takes on average 3 to 4 months to complete and results with the automatic stay becoming a permanent injunction against your creditors. This is called the “discharge” and once your case is discharged and closed, you are free to begin the rebuilding process to your new financial life. Set up an appointment today, and let us assist you to a debt free life.