Fayetteville Chapter 7 Bankruptcy Lawyer
If you are struggling under the weight of unmanageable personal debt, it’s more than understandable for you to wish that something could be done to make those debts disappear. While nothing can make your debt simply vanish altogether, Chapter 7 bankruptcy provides debtors with an amazing opportunity to have many, if not most, of their outstanding debts completely wiped out, or discharged.
You do not need to spend one more day dodging creditor calls or worrying about how you’re going to move past this time in your life. At the Bradford Law Offices, PLLC, our Fayetteville Chapter 7 bankruptcy lawyers know what you are facing, and we also know how a successful bankruptcy filing can help you move past this point and secure a fresh financial start. Call us today at (919) 758-8879 to learn more about the benefits of Chapter 7 bankruptcy and how they apply to your current situation.
Understanding Chapter 7 Bankruptcy
There are several different bankruptcy options available to individuals who are looking for financial relief, and some types will apply to certain individuals better thank others. As such, the bankruptcy attorneys at the Bradford Law Offices, PLLC, have put together the following resources to help you better understand Chapter 7 bankruptcy and determine if it is right for you:
Evaluating your bankruptcy options can be a confusing and overwhelming prospect, but help is available. Let our experienced team help you fully understand the options available to you at this time so that you can make the best choice about how to move forward.
Talk to a Fayetteville Chapter 7 Bankruptcy Attorney
With more than 19 years of experience helping clients face unmanageable financial situations, the Fayetteville Chapter 7 bankruptcy lawyers at the Bradford Law Offices, PLLC, know exactly what you’re going through right now and what it will take to help you through this situation. Let us start working for you today by calling us at (919) 758-8879.
Chapter 7 Bankruptcy FAQs
Who is Chapter 7 bankruptcy best for?
Chapter 7 bankruptcy is best for those who have little to no disposable income, considerable unsecured debt, and little property or assets. Chapter 7 bankruptcy is a liquidation bankruptcy plan in which a Chapter 7 trustee will take your nonexempt property and sell it to pay back your creditors. If you do not have much or any nonexempt property, your creditors do not receive any repayments, which makes Chapter 7 bankruptcy ideal for those who do not have many assets that may be sold and want a fresh start from their debts. However, there are certain debts that are non-dischargeable under a Chapter 7 plan, so it is important to know what kind of debts you have before pursuing Chapter 7 bankruptcy. Any of our skilled Fayetteville Chapter 7 bankruptcy attorneys can help you determine if Chapter 7 is the right option for you or if another bankruptcy plan is better suited to your needs. For more information, please contact the Bradford Law Offices, PLLC at (919) 758-8879 today.
Can Chapter 7 bankruptcy stop foreclosure on my home?
Chapter 7 does not expressly stop the foreclosure of homes, though it does carry with it certain benefits which may help delay foreclosure in other ways. After you file for Chapter 7 bankruptcy, you will be given an “automatic stay” on all of your debts, which prevents creditors from continuing collection efforts against you, and this automatic stay likewise applies to foreclosure. Even if you are only able to stall your foreclosure by a few months, you can save thousands of dollars during this period when you are not making mortgage payments, which can then be applied to your mortgage. If these savings are sufficient to get your payments back on track, they may stop foreclosure efforts. Additionally, you may have more money after some of your other debt is discharged, which you can use for mortgage payments. For more information about Chapter 7 and other options that may help with foreclosure, such as Chapter 13 bankruptcy, please contact the Bradford Law Offices, PLLC at (919) 758-8879 today.
Which debts are considered non-dischargeable under Chapter 7 bankruptcy?
Although there are a number of unsecured debts that can be discharged in a Chapter 7 bankruptcy filing case, there are also several types of debts that are considered non-dischargeable and which must be paid. Some of these include recent income tax debt, all other tax debt, student loans, penalties for breaking the law such as traffic tickets, and family support obligations such as child support and alimony. If you have any of these types of debt, this debt will remain after your file for bankruptcy is complete. For more information about which debts can be discharged and which cannot under bankruptcy law, please contact the Bradford Law Offices, PLLC at (919) 758-8879 today.