BANKRUPTCY - CHAPTER 7
Bankruptcy attorneys at Affinity Law Group, LLLC will explain the benefits of Chapter 7 bankruptcy and outline the scenarios where bankruptcy is likely the best solution. If you are facing financial difficulty, understanding your options will make you feel less overwhelmed. We can help you understand what Chapter 7 means and if the benefits are right for you.
Taking the first step and calling a bankruptcy attorney may be difficult for you. However, you should not feel embarrassed or overcome with anxiety. Many people are in a similar situation as you. Medical bills, a job loss, and a decrease in pay, can cause you to fall behind on your credit cards, bills, and mortgage.
Seeking the advice of an experienced bankruptcy attorney before filing a Chapter 7 case is prudent for several reasons. The bankruptcy laws may prevent you from filing under Chapter 7 if your income is higher than the average person’s or if you filed a Chapter 7 case in the previous eight years. A Chapter 7 bankruptcy may also not be feasible if the value of your assets exceeds certain dollar amounts. Finally, some types of debt, such as student loans, taxes or unpaid child support, generally cannot be eliminated in a Chapter 7 case. Our law firm will review your financial situation in detail before determining whether a Chapter 7 bankruptcy is right for you.
BENEFITS OF CHAPTER 7
You should discuss how bankruptcy will affect your financial future before you start the bankruptcy process. Some benefits of a Chapter 7 fresh start are as follows:
Creditor calls
will stop
Legal actions by creditors will end
Your medical bills will be discharged
Unsecured credit cards will be discharged
There will be no additional legal proceedings against you
Your wages will not be garnished
Bankruptcy Protects Against Wage Garnishments
Filing for bankruptcy stops your wages from being garnished by banks and debt collectors. In certain cases, you may also be able to force your creditors to return wages that were garnished prior to your bankruptcy filing. Our law firm routinely litigates these types of “avoidable preference” actions against creditors.
HOW CHAPTER 7 WORKS
As you can see, the benefits of Chapter 7 bankruptcy are immediate. Chapter 7 bankruptcy will give you a fresh start and alleviate your stress, allowing you to focus on your family and not your creditors.
What Is Not Discharged Under Chapter 7?
Child support
Criminal fines
Spousal support
Certain types of tax debts
Student loans
Call the Affinity Group if you are considering Chapter 7.
Our Hawaii bankruptcy attorneys have helped people just like you deal with the financial options bankruptcy presents. Call the Affinity Group at (808) 545-4600 to arrange for a confidential free no obligation consultation to discuss your bankruptcy, or complete our help contact form.
Affinity Law Group, LLLC is a full service debt resolution law firm and one of the areas of our practice of law is to provide debt relief by filing for bankruptcy relief under chapter 7, chapter 13 and/or chapter 11 of the Bankruptcy Code.