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Chapter 7 Bankruptcy

Filing for Chapter 7 Bankruptcy

Guidance from a Westchester County Bankruptcy Attorney

When you are facing an overwhelming amount of debt, it can leave you feeling overcome with stress and frustration. As you feel yourself being buried with more and more debt, you may believe that you have nowhere to turn. Luckily, you have options to resolve your debt issues.

At Bronson Law Offices, P.C., we understand the immense pressure you may be facing at this time. We are equipped to assist you through this difficult process and help you obtain the debt-free future you deserve. Our experienced Westchester County bankruptcy attorneys have been successfully helping debtors file for Chapter 7 bankruptcy for numerous years and can do the same for you.

What is Chapter 7 bankruptcy?

Chapter 7 bankruptcy is the most common form of bankruptcy, often referred as "liquidation bankruptcy." Under this chapter of the U.S. Bankruptcy Code, an individual debtor's eligible assets will be surrendered to the bankruptcy trustee and then liquidated to pay off creditors. However, there are exemptions that can be used to protect certain property.

Chapter 7 bankruptcy can help you discharge the following types of debt:

  • Credit cards
  • Department store cards
  • Medical bills
  • Payday loans
  • Utility bills

Once a debtor files a Chapter 7 bankruptcy petition, all creditors are notified and must cease all debt collection efforts or lawsuits against the debtor. It may effectively stop or prevent repossession, wage garnishment, and all contact from creditors. Once a debtor successfully goes through the process of a Chapter 7 bankruptcy, all eligible debt will then be discharged.

Is this chapter right for me?

Chapter 7 bankruptcy is typically completed within 4 to 6 months and effectively offers a debtor a fresh financial start. Most often, it is recommended for debtors with little to no income who do not have real property or an extensive amount of assets to protect from liquidation.

Not everyone will qualify to file a Chapter 7 bankruptcy. In addition to completing credit counseling, a debtor must pass the means test, which is an evaluation of the debtor's income and expenses to determine whether or note they would be able to make regular payments under Chapter 13 instead.

Get Started on Your New Future Today

By having an experienced Westchester County bankruptcy attorney on your side, you can be confident that you are on the right track towards financial freedom. At Bronson Law Offices, P.C., we pride ourselves in providing compassionate services that are tailored to our clients' needs. Our personalized attention and insightful counsel is key to helping you through this stressful time.

To see if Chapter 7 bankruptcy is right for you, do not hesitate to contact Bronson Law Offices, P.C.