Chapter 7 Bankruptcy
Chapter 7 Bankruptcy is a relatively simple, quick, and inexpensive way to free yourself from burdensome debt. When people think of a "fresh start" in bankruptcy, Chapter 7 is usually what they're thinking of.
Chapter 7 is intended for individuals who, after paying all of their ordinary monthly living expenses, do not have any money left over to make even partial payments on their unsecured debts.
Chapter 7 is excellent for eliminating most types of unsecured debts, including:
Chapter 7 is able to stop many invasive debt collection practices, including:
- credit cards
- medical bills
- payday loans
- personal loans
- most civil judgments
- delinquent utility bills
- deficiencies resulting from repossession or foreclosure
Individuals who have received a bankruptcy discharge too recently or whose income is too excessive may not be eligible for file under Chapter 7.
- Debt Collector Harassment
- Lawsuits and Judgments
- Wage Garnishments and Bank Account Levies
- Utility Shut-Offs