What Is Chapter 7 Bankruptcy?

Chapter 7 Bankruptcy

Chapter 7 bankruptcy is also sometimes referred to as “liquidation” bankruptcy, and may be a good solution for individuals and families in financial difficulty who simply do not have the ability to repay all of their debts. If you have credit card bills, medical bills, or payday loans, Chapter 7 can almost always help eliminate all these debts. Chapter 7 bankruptcy assists individuals and families in achieving the “fresh start” bankruptcy promises. Depending on your financial circumstances including your income and assets, you may not be eligible for Chapter 7. Let our attorneys analyze your financial situation and we can advise you whether a Chapter 7 bankruptcy is a good option in your case.

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