Are you struggling to keep your head above water? If you are looking for a financial do-over and do not have the means to repay debt, Chapter 7 bankruptcy may be the best option for you.
Chapter 7 is commonly filed by individuals with overwhelming amounts of medical bills, credit card debt, home loans and/or a loss of income.
Often referred to as liquidation, Chapter 7 allows your financial slate to be wiped clean. While there is a possibility of losing assets with Chapter 7, around 90% of cases lose no property in the transaction.
Instead, most individuals are able to alleviate their debt and immediately stop creditor harassment.
Under law, creditors are obligated to cease any legal action once Chapter 7 bankruptcy is filed.
Benefits of Chapter 7 Bankruptcy:
- Stop creditor harassment
- Save home from foreclosure or eviction
- Provides total relief from unsecured debt
- Debt claims discharged in as little as six months
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