Buried in Debt ?    We can help you!

Chapter 7 is the most common type of bankruptcy for individuals or married couples that have few assets besides their home, vehicles, and personal possessions. Most people are able to keep all of their assets while all their credit cards, medical bills, and other unsecured debts are discharged by the court. The entire process can be completed within 3 to 4 months.

Immediately upon filing your case with the court, the court will issue an automatic "stay" which stops all of your creditors or collection agencies from contacting you any further. The creditors are prohibited from even attempting to collect a debt once your case has been filed. It can also prevent:

Ending the collection calls and stopping a foreclosure, repossession or wage garnishment is just the first of many reliefs that Chapter 7 bankruptcy protection will bring you.

You should consider filing Chapter 7 Bankruptcy if:

There are certain types of debts, such as child support, alimony, school loans, and certain taxes, that cannot be included in your settlement. When you go through the Chapter 7 bankruptcy process, you will also be required to attend an approved credit counseling program to help you learn how to handle your finances and budget more wisely once your bankruptcy is complete.

Will I lose all my assets and personal property?

Chapter 7 bankruptcy will protect various types of assets and property, including wages, pensions, benefits, furniture, clothing, vehicles, and household items.

Can my unpaid taxes be included in a bankruptcy?

Statutes allow a person to discharge tax obligations that are more than three years old as long as certain qualifications are adhered to.

Will I be able to get credit after filing for a bankruptcy?

With a bankruptcy on your record, you will see your credit rating take a dip, but this is temporary and will start to improve as time goes by and you begin to rebuild your credit. Applying for small credit cards or department store cards (which should be used sparingly and repaid every month) will go far towards improving your credit score.

If you are struggling to pay off your debts, keep in mind that you are not alone. Hundreds of thousands of people who are in your position have found the debt relief they need through Chapter 7 bankruptcy each and every year, and WE ARE HERE TO HELP YOU. Call the Smith Law Group now for your free consultation. Let us get you started on the path to recovery from debt, and help you build good future credit.