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Chapter 7 Bankruptcy

What are the benefits of Chapter 7 Bankruptcy?

Chapter 7 Bankruptcy is sometimes called a “liquidation” bankruptcy — in general, most of your debts will be cancelled; however, if you have too much income, or too much “equity” in property, you may be forced into a Chapter 13 Bankruptcy.  In a Chapter 7 Bankruptcy, with certain exceptions, nearly all debts can be cancelled. Some exceptions include, but are not limited to: child support, student loans, and taxes; however, under certain circumstances even “income” taxes can be cancelled.

Benefits you receive may include, but are not limited to:

  • Stop harassing phone calls
  • Stop garnishment orders
  • Stop lawsuits
  • Stop mortgage foreclosure actions
  • Stop efforts to repossess property

 

Not all Individuals are eligible for Chapter 7 call our office at (812) 288 1250 for an appointment to review eligibility!

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