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In a Chapter 7 bankruptcy, you can get rid of most of your debts, such as payday loans, medical bills, credit cards, personal loans, repossessions, and more. In most Chapter 7 cases, you can still keep your home and car, so long as you make your payments on time. The advantages don’t end there. The moment you file, you end all the threats and bullying, including lawsuits, garnishments, and frozen bank accounts. However, there are several strict requirements, so it pays to have an experienced Chapter 7 lawyer by your side before you start. We understand the burden of debt as well as the relief that comes with a debt-free future. We can help you determine if Chapter 7 bankruptcy is the appropriate path between those two points.
Contact Advanced Bankruptcy Legal Services of Connecticut to schedule a consultation with a lawyer today at 860-855-3257
Chapter 7 bankruptcy is an effective solution for swiftly resolving debt problems and putting an end to creditor actions such as repossession of vehicles, foreclosure on homes, or wage garnishment. It offers a fresh start by systematically selling off certain assets to eliminate debt. Chapter 7 is a type of bankruptcy specifically designed for individuals and some businesses.
To qualify for Chapter 7, there might be a requirement to liquidate a certain amount of assets. However, the majority of Chapter 7 bankruptcies are categorized as "no asset" since the debtors do not possess any assets that can be liquidated.
To prevent high-income people from taking advantage of an “easy out,” applicants for Chapter 7 bankruptcy must pass a means test. The means test assures the court that you do not have enough income to reasonably pay off your debt. You’ll also need to get financial counseling during the six months before you file. To ensure that you meet all these requirements and file the proper paperwork, you’ll need to meet with a bankruptcy lawyer well beforehand so that the process goes through as quickly as possible. Get started on the road to financial freedom today. Contact one of our bankruptcy attorneys now.
Disclaimer: We are a debt relief agency. We are attorneys who help people file for bankruptcy relief under the bankruptcy code.
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Disclaimer: The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute an attorney-client relationship.
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