What Does a Chapter 7 Bankruptcy Do?

What Does a Chapter 7 Bankruptcy Do?

Filing Chapter 7 Bankruptcy can be a good option for debtors who cannot make their payments toward their debt. It can lead to the total elimination of unsecured debts from credit cards, medical expenses, and car loans. Filing Chapter 7 bankruptcy will put your debts under the bankruptcy court’s control. The bankruptcy trustee will sell the debtor’s nonexempt assets to pay off the debt owed to the creditors

Do I Need a Chapter 7 Bankruptcy Lawyer?

Before proceeding with chapter 7 bankruptcy you will need to make sure it is the right thing for you and your situation. Filing for chapter 7 bankruptcy without an attorney isn’t recommended because of long-term financial and legal problems that could occur when done improperly. Chapter 7 bankruptcy may be ideal if you don’t have many assets, you are unable to pay off your debts, it would take more than 5 years to pay off your debts even with significant budgeting and cutbacks, or your debts cannot be forgiven or discharged. 

Chapter 7 Bankruptcy At Jack Berman Law

If you or someone you know needs to file for chapter 7 bankruptcy in Livonia, MI, Shelby Township, MI, Sterling Heights, MI, or the surrounding areas, our skilled bankruptcy attorney Jack Berman has the skill and experience that you need. With more than 50 years of combined bankruptcy experience, our legal team has the expertise to handle all your debt-restructuring needs. As a credited bankruptcy attorney, Jack Berman can help you solve financial issues such as home foreclosure, cancel unsecured debts, and teach you how to stop wage garnishment. Contact us online or call us at 734-367-0600 for a free initial consultation with Mr. Berman today!

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