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Chapter 7 Bankruptcy Lawyer Near Me

People can end up in debt in a variety of ways, most of which are not their fault. In many cases, overwhelming debts are a result of medical expenses, the loss of a job, poor economic conditions, underperforming business ventures, or poorly performing investments. If you are one of the millions of Americans struggling with crushing debt, you may not know where to turn. Fortunately, for many people, Chapter 7 bankruptcy can eliminate debt and provide a fresh financial start. 

If you are struggling with significant debt and do not see any way out, you should speak with a Chapter 7 bankruptcy lawyer near you as soon as you can. It could be your first step to freedom from debt and a brighter future.

Is Chapter 7 Right for You?

Chapter 7 is only one type of bankruptcy. While it is the most common type of consumer bankruptcy, it is not automatically the right choice for everyone. When you speak with an experienced bankruptcy lawyer, they will review your circumstances and advise of your best options. 

Some factors to consider include the following:

  • Your income – if you have income that is too high, you will not be eligible to file for a Chapter 7 case. 
  • Your property and assets – if you have nonexempt property and assets you want to keep, Chapter 7 might not be the right case for you. 
  • Your debts – Chapter 7 does not get rid of all types of debt, and you want to ensure your case will leave you with as little debt as possible.

If you meet with your attorney and decide that Chapter 7 is right for you, your attorney will begin the process for you. 

The Chapter 7 Bankruptcy Process

Chapter 7 bankruptcy cases generally take six months or less. You are not required to make payments as you might be in other types of bankruptcy cases. Instead, you might have to forego some of your property and assets in exchange for the discharge of your unsecured debts. 

Chapter 7 involves giving up non-exempt property and assets to the bankruptcy trustee. Fortunately, the law provides exemptions that can protect most – if not all – of your property. . In fact, most Chapter 7 bankruptcies are “no-asset” bankruptcies, which means that the person who filed did not have any non-exempt assets reachable by the trustee. This means that they were able to obtain a discharge of their debts without having to give up any of their personal assets. At the end of your case, the court can order your debts to be discharged, which means you will no longer be obligated to pay them. While you might be left with some secured debts, the discharge can often free up funds to stay on top of your remaining bills. 

Consult with a Chapter 7 Bankruptcy Lawyer Near You Today

At the law firm of Miranda, Magden & Miranda, LLP, we have seen firsthand the many ways that Chapter 7 bankruptcy has helped our clients. We know how to assess your situation and your best options, and handle the process for you to ensure you obtain the successful discharge of your debts. If you are having financial trouble, you should speak with a Chapter 7 bankruptcy lawyer near you. Contact us for more information about your options as soon as you can. 

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