Chapter 7 bankruptcy or “debt liquidation” bankruptcy allows you to reduce or eliminate your debts. Most people find themselves facing bankruptcy after an incident out of their control, such as a divorce, injury or job loss, disrupts their life. You may have been under pressure to keep up with everyday expenses and turned to a credit card that you are now unable to pay off. When you face overwhelming debt, there is a solution.
Suffering from unmanageable debt, creditor harassment and the undue stress of feeling that there is no way out is much worse than taking the initiative to file bankruptcy. You can protect your rights and receive a financial fresh start. Contact us to learn more about bankruptcy and your rights.
A Chapter 7 bankruptcy is a way for people to reduce many of their debts. While certain debts like child support arrears are not dischargeable, most consumer debts are dischargeable. A Chapter 7 bankruptcy is often able to help clients with credit card debts and medical debts, and even assists with some civil judgment debts. In addition to reducing burdensome debt, a Chapter 7 bankruptcy can help put an end to credit harassment and debt collection calls.
Chapter 7 bankruptcy process
Before filing for bankruptcy protection, we will help you review your income, debts and assets. You should list all the debts you owe, including exempt property . We work with you to identify exempt property and loans that you want to pay off, and provide a complete assessment of your financial situation to devise an optimal solution to your debt and whether Chapter 7 or Chapter 13 is better for you. We can provide you with ways to pay utility bills to keep power in your home, ways to pay off credit card debt and provide you with credit counseling to help you restore your credit rating after bankruptcy.
Chapter 7 bankruptcy may be right for you if:
- You cannot pay off credit card debt
- You do not have a home or significant assets that need protection
- You want to stop creditor harassment
- You want to stop wage garnishment
- You have a bad credit rating because of credit card debt
- You have overwhelming medical expenses
- You have a civil judgment debt
Bankruptcy is NOT financial defeat. You have a right to debt relief.
Many people think of bankruptcy as a financial defeat, as an unhappy end to debt problems. At the law office of Charles E. Covey , we encourage people to see bankruptcy, when necessary, as a first step to a new financial future. Bankruptcy is a way for people facing serious and unmanageable debt problems to obtain necessary relief. It is a chance at a future that is free from harassing credit collection calls, wage garnishments, overbearing interest rates and the burdensome stress of debt worries. Bankruptcy is a tool provided by the government to protect consumers from unmanageable and overwhelming debt.
Contact Charles E. Covey for a free consultation with a bankruptcy lawyer in Peoria, Illinois. Call now to explore your options and alternatives if you are considering bankruptcy. We can protect your rights and help you take steps toward a financial fresh start.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.