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Chapter 7 bankruptcy is a good option for consumers who simply have too much debt and can not keep up with payments. They may have lost their job or come across unexpected expenses, such as medical bills or car repairs. If you take the means test and your income is below the median, t...
Chapter 7 Discharge The main goal in a Chapter 7 bankruptcy is to get a discharge. A bankruptcy discharge eliminates the filer's responsibility to pay back the debts they owe. When an individual gets a discharge, it prevents creditors from initiating any collection actions against them. ...
Chapter 7 bankruptcy is designed to give debtors a “fresh start” in their financial life. At theend of the process, all qualifying debts are discharged, which means you will never have to pay them. Filing a bankruptcy petition is complicated and time consuming and not all debts are discharg...
Chapter 7 bankruptcyis a legal procedure that discharges a debtor from personal liability for certain types of debts, including credit cards, medical bills, personal loans, foreclosures, repossessions, overdrafts, check cashing loans, etc. Upon filing for Chapter 7 bankruptcy, you will be protected...
Through a Chapter 7 bankruptcy, you (individual or business) can also discharge many unsecured debts like: Credit Cards & Charge Cards Personal loans Business debt Medical Bills Utility bills Pay day loans Unpaid Taxes (min. 3 years old) ...
Foster Law Offices, LLC assists consmers with obtaining a fresh start through Chapter 7 Bankruptcy. Credit card debt, medical bills, loans? We can help.
Hayden & Butler, PSC, are bankruptcy attorneys near Lexington. We help solve your debt problems. Call us for Chapter 7 & Chapter 13 bankruptcy filings now!
chapter 7n (Law) US the statute regarding liquidation proceedings that empowers a court to appoint a trustee to operate a failing business to prevent further loss[C20: from chapter 7 of the Bankruptcy Reform Act (1978)] Collins English Dictionary – Complete and Unabridged, 12th Edition 2014...
Businesses can also file for Chapter 7 bankruptcy, but they are not subject to the means test. For a business, Chapter 7 involves liquidating assets to pay creditors and then closing down operations. This is often the best option for businesses with insurmountable debt and no viable path to p...