CHAPTER 7
We help homeowners, workers, and other clients file for Chapter 7 bankruptcy protection. Sometimes referred to as a “straight liquidation bankruptcy,” Chapter 7 is the most common type of consumer bankruptcy due to its relative simplicity and cost. It has generally been the bankruptcy used by those with no assets or limited assets.
Bankruptcy is a powerful tool for managing debt. It gives people a fresh start. Some examples of dischargeable debts include:
- Credit Card Debt
- Medical Bills
- Business Debt
- Unsecured Loans
However, there are several types of debts that cannot be discharged by filing for Chapter 7. Child support, taxes, student loans, and certain types of court-ordered damages awards are not discharged in bankruptcy.
Recent changes in bankruptcy law
The Bankruptcy Code was amended in 2005. The changes generated a great deal of discussion among bankruptcy professionals and concerned debtors. Although a means test is now applied to Chapter 7 filings, we find that most people who qualified for federal debt protection before still qualify today. The credit counseling requirement can be met in our office. Call us to learn more about the protections available to you.