Chapter 7 Bankruptcy Lawyers in Burlington County, NJ
How Chapter 7 Works
Chapter 7 bankruptcy is also known as liquidation and provides debtors with a fresh start by discharging most unsecured debts. If you have more debt than you know how to handle from credit cards, medical bills, a recent divorce, job loss, or taxes, Chapter 7 bankruptcy may be a viable option to improve your financial situation. When you file for Chapter 7 bankruptcy, you will receive automatic benefits like eliminating wage garnishments, freezing home foreclosures and vehicle repossessions, and stopping harassment from creditors.
There are certain debts that cannot be discharged through Chapter 7 bankruptcy. These include:
- Tax debt less than three years old
- Government and court-related fines
- Child and spousal support
Steps Involved in Chapter 7 Bankruptcy
A common question debtors have is what exactly happens during the course of the bankruptcy proceedings. After contacting a South Jersey bankruptcy lawyer at McDowell Posternock Apell & Detrick, PC, here is what you can expect during your Chapter 7 bankruptcy case:
- You will be required to provide your lawyer with all pertinent financial documents. Your McDowell Posternock Apell & Detrick, PC attorney will draft the legal documents and prepare you for the bankruptcy proceedings. Upon filing, an automatic stay begins immediately, and creditors will no longer be able to contact you.
- You will take a mandatory consumer credit counseling course that can be completed from home. You will later need to complete a financial management course, which your attorney will prep you for.
- There will be a meeting with your court-appointed trustee. Alongside your attorney, you will discuss your assets, debts, claims, and so on. The trustee will analyze your situation and verify that you are entitled to have your debts discharged.
- If there are any issues from the creditors meeting, your McDowell Posternock Apell & Detrick, PC attorney can help work them out with your trustee. Shortly after this meeting, you can expect a bankruptcy discharge, marking the end of your case.
Why should I consider filing for Chapter 7 bankruptcy?
- Get a professional opinion from an expert about the best way to handle your debts.
- Learn which debts can be discharged through Chapter 7 bankruptcy.
- Stop wage garnishments and freeze foreclosures or repossessions.
- Receive guidance through the entire bankruptcy process and professional representation in court.
- Be provided with assistance rebuilding your credit.
Seek bankruptcy advice with a free phone consultation
Are you considering Chapter 7 bankruptcy as a solution to your growing financial struggles and debt? Rest assured that the knowledgeable South Jersey bankruptcy attorneys at McDowell Posternock Apell & Detrick, PC will guide you through the entire process and thoroughly explain your options. Call us today or fill out our contact form to schedule a free phone consultation.