Chapter 7 Bankruptcy
The main purpose for filing Chapter 7 bankruptcy is to obtain a discharge of certain debts that a person is unable to pay. A discharge of a person's debt means the creditors are no longer allowed to collect the discharged debt for the rest of that person's life. This is what is meant when bankruptcy attorneys mention the debts are eliminated or a person receives a financial fresh start.
People can file Chapter 7 bankruptcy individually or with their spouse, if married. In addition, if your spouse decides he or she does not want to file Chapter 7 bankruptcy, you can still file Chapter 7 bankruptcy. There is no requirement that married couples must file Chapter 7 bankruptcy together.
Although Chapter 7 bankruptcy is considered a liquidation proceeding, most people are able to keep all of their property, including their home, vehicles, bank accounts and retirement accounts, as well as other qualified property. Your property can be protected from liquidation using available State or federal exemptions.
The bankruptcy laws can be complex and it is recommended that you hire an experienced Chapter 7 bankruptcy attorney to maximize the benefits the bankruptcy laws allow.
From start to finish, a Chapter 7 bankruptcy can be as quick as 4 months depending on a person's circumstances.
Trust EDF Law to help you file Chapter 7 bankruptcy at a fair price. Call to speak to a bankruptcy attorney with over a decade of experience helping people file Chapter 7 bankruptcy.
Common Reasons People File Chapter 7 Bankruptcy:
Eliminate credit card debts
Eliminate medical bills
Stop utility shut-offs & eliminate delinquent utility bills
Stop garnishments & eliminate collection judgments
Stop collection lawsuits & eliminate related debts
Eliminate deficiencies owed on vehicle loans or repossessions
Stop creditor harassment
* Not all debts can be eliminated by filing Chapter 7, call us to find out if your debt can be eliminated with this option.
When will my creditors stop harassing me?
As soon as your bankruptcy case is filed, with limited exceptions, your creditors must stop all collection efforts, including phone calls and letters as well as other collection attempts such as civil lawsuits.
How much are the fees to file a Chapter 7 bankruptcy case?
The fees to file Chapter 7 bankruptcy will vary slightly depending on how much work is needed in your particular case. An experienced Chapter 7 bankruptcy attorney should be able to provide you with a fee quote after the initial consultation.
At EDF Law, we provide competitive rates and affordable payment plans that fit most budgets. We understand this may be a difficult time for you and the last thing you need to do is overpay for legal fees. Our initial consultations are always free.
Will Chapter 7 bankruptcy ruin my credit for life?
No. Chapter 7 bankruptcy will not ruin your credit for life. In fact, it may improve your ability to obtain new credit faster than continuing to struggle with your debts as they currently exist. Chapter 7 bankruptcy can actually be the first step in rebuilding your credit.
We are a debt relief agency that helps people file for bankruptcy relief pursuant to the Bankruptcy Code as well as helping people avoid bankruptcy when it is the more appropriate choice.