Bankruptcy
is a right provided by federal law to people who have crushing debt such as credit card bills, medical bills, personal unsecured loans, pending foreclosure, vehicle repossessions and are in need of a fresh start. Getting behind on your bills can happen to anyone and for any reason such as illness, loss of job, loss of income, or divorce and bankruptcy law helps people restore their financial stability by eliminating those debts.
Chapter 7 Bankruptcy is considered the most common form of bankruptcy for individuals looking for a fresh start financially and for business owners that want to liquidate and terminate their operations. Chapter 7 Bankruptcy stops collections, lawsuits, bank levies, and garnishments.
Chapter 7 Bankruptcy allows debtors to eliminate most type of debts while allowing debtors to keep up to a certain monetary amount of personal property such as a car, household goods and furnishings, equity in a home (if current on payments and do not have too much equity), clothing, jewelry, pensions, and public benefits such as Social Security, public assistance and unemployment compensation. These are called exemptions that are claimed by the debtor in a Bankruptcy Petition filed with the Bankruptcy court. These exemptions of property can legally help you retain your home, vehicle, retirement funds and other personal property while eliminating your debts.
Non-dischargeable debts:
There are certain debts generally not dischargeable in bankruptcy such as:
Student loans (unless you can show undue hardship)
Child support
Alimony
Damages awarded for personal injury due to a DUI
Criminal fines, restitution and court fees, and
Certain taxes.
To determine if you are eligible to receive a Chapter 7 bankruptcy discharge of your debts.
Evening and Saturday appointments are available upon request.
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