Benefits of Chapter 7 Bankruptcy
Chapter 7 bankruptcy provides individuals struggling with unmanageable debt the means to regain control of their finances. Though not everyone is eligible to file for Chapter 7 bankruptcy relief, those who do qualify for this form of bankruptcy should consider examining how it may benefit each of them individually. If you are considering bankruptcy, it is important to reach out to a bankruptcy attorney to discuss your potential options.
At the Bradford Law Offices, PLLC, our Fayetteville Chapter 7 bankruptcy attorneys can help you determine your eligibility for this form of bankruptcy and then help you understand whether it would be a sound decision for your financial future. If we do come to the conclusion that Chapter 7 would be right for you and you would like to move forward with the process, our legal team in Fayetteville is prepared to help you work through every step of the filing process.
How Chapter 7 Bankruptcy May Be Able to Help You
The thought of trying to overcoming significant debt can be intimidating and even daunting. You may, however, be able to significantly accelerate this process through Chapter 7 bankruptcy. The following represent some of the beneficial aspects of Chapter 7 bankruptcy:
- Some of your debt will be forgiven—While you will probably still need to pay off some of your debts after working through bankruptcy, many of your debts may be discharged
- There are not any limitations on the amount of debt—Unlike Chapter 13, which sets specific caps on the amount of debt you can have, Chapter 7 rules do not impose any limitations on the amount of debt you can have
- Discharging debts occurs quickly—Courts usually issue a discharge order around 60 to 90 days after a person files for Chapter 7 bankruptcy
- You can rebuild your credit score—Though your credit score may take a hit in the short-term, you will be able to rebuild your credit once your debt is back under control
Our legal team in Fayetteville understands just how important it will be to find the right solution to your debt woes. Our bankruptcy attorneys in Fayetteville can help you explore all of your bankruptcy options so that you can make well-informed financial decisions now and in the future.
Contact a Chapter 7 Bankruptcy Attorney in Fayetteville
If you are struggling with seemingly insurmountable debt, Chapter 7 bankruptcy may be a good option in order to regain control over your finances. To speak to a Chapter 7 bankruptcy attorney in Fayetteville about your situation, please call our Fayetteville offices at (910) 668-0006 today.