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Who Can Declare Chapter 7 Bankruptcy?

Sawin & Shea

If you’re struggling with overwhelming debts, Chapter 7 bankruptcy could be your best option. Chapter 7 is the most common form of bankruptcy for individuals and families, and it allows you to discharge many of your unsecured debts within only a few months. What is Chapter 7 Bankruptcy?

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What debts are discharged in a chapter 7 bankruptcy?

Roths Child Law

It can, however, be a really smart financial decision that gives you the chance to be debt free and feel like you can breathe again. . A chapter 7 bankruptcy is one of the most common routes individuals take in discharging their debt. Chapter 7 bankruptcy discharges unsecured debts.

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Questions to Ask a Chapter 7 Bankruptcy Lawyer Before Filing for Bankruptcy

Sawin & Shea

At Sawin & Shea, LLC, our Chapter 7 Bankruptcy lawyers have helped clients just like you in the Indianapolis and surrounding areas. What is Chapter 7 Bankruptcy? Will All of My Debt Get Discharged? Will I Lose My Property When I File Chapter 7 Bankruptcy?

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Chapter 7 Bankruptcy can give you a fresh start

Roths Child Law

Chapter 7 bankruptcy is also known as the “fresh start” bankruptcy. The basics of Chapter 7 bankruptcy. Under the blanket of Chapter 7 bankruptcy, you can expect to have some big bills charged off. These include tax bills, student loans, and child support.

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Secured vs Unsecured Debt: Everything You Need to Know

Sawin & Shea

Before you declare bankruptcy, it’s crucial to understand how the law treats the concept of secured vs unsecured debt. First, let’s briefly touch on two of the most common types of bankruptcy: Chapter 7 and Chapter 13. What’s the Difference Between Chapter 7 and Chapter 13?

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Chapter 7 bankruptcy: Dischargeable vs. nondischargeable debts

Roths Child Law

Here is more on what you need to know about dischargeable and nondischargeable debt before filing for Chapter 7 bankruptcy. Which debts will you be left with? In most cases, unsecured debts are usually discharged by filing for Chapter 7 bankruptcy.

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Consumer Debt vs. Non Consumer Debt

Sawin & Shea

When filing Chapter 7 or Chapter 13 bankruptcy, it’s critical to understand the difference between consumer debt and non-consumer debt. If you’re considering filing Chapter 7 or Chapter 13 bankruptcy, consider enlisting the help of skilled bankruptcy attorneys.