Chapter 7 Bankruptcy Lawyer

Chapter 7 bankruptcy is a tool available to low-income or no-income individuals to help them get out of debt and to get a fresh start. For many people, Chapter 7 can help a person cancel much or all of their debt, including credit card debts and medical bills. Many people mistakenly believe that if they file a Chapter 7 bankruptcy, which is also known as “liquidation bankruptcy”, that they will lose all of their belongings, including their home and their automobiles. While that certainly occurs in some cases, often times we are able to secure some types of property, allowing the debtor to retain the property, so long as it qualifies under the law for an exemption. Once certain property has been declared exempt, a trustee, who is appointed by the bankruptcy court to oversee your case, will liquidate your remaining assets in an effort to provide some compensation to creditors. At the conclusion of your case, your debts will be discharged, meaning you will no longer be liable for those debts, and those creditors can no longer seek to collect from you. To learn whether you qualify for a Chapter 7 bankruptcy, what types of property you may be able to retain, and what debts you are eligible to discharge, please contact Attorney¬†Timothy Heinle¬†with our office for a free consultation.