Chapter 7 bankruptcy is intended to assist individuals in eliminating the majority of their unsecured debts, providing them with a fresh financial start. If you’re thinking about filing for bankruptcy, a Chapter 7 attorney in Philadelphia, PA, can help. However, the process can be complicated, and having an experienced attorney on your side can make a big difference.
What is Chapter 7 Bankruptcy?
Chapter 7 bankruptcy, often referred to as “liquidation bankruptcy,” allows individuals to eliminate various debts, such as credit card debt, medical bills, and personal loans. A trustee is assigned to oversee the sale of non-exempt assets to satisfy creditors. Consulting with a Chapter 7 Attorney in Philadelphia, PA, can help ensure that you understand which assets may be protected under these exemptions.
Benefits of Filing Chapter 7
One of the most significant benefits of filing for Chapter 7 bankruptcy is the potential to discharge a huge amount of unsecured debt. This can reduce stress and help people regain control of their finances. Furthermore, the process is usually shorter than other bankruptcy options, requiring only a few months.
How Can a Chapter 7 Attorney Help?
Navigating the Chapter 7 bankruptcy procedure without legal assistance can be stressful. A Chapter 7 attorney can help you complete the proper paperwork, represent you in court, and provide expert assistance throughout the process. The Law Offices of Everett Cook, P.C., provides expert legal counsel to help you understand your bankruptcy choices and secure a better financial future.
