Chapter 7: A Rundown of Filing Bankruptcy
What You Should Know about the Chapter 7 Filing Process
Did you know that filing for personal bankruptcy protection results in your creditors being silenced?
You Have the Power to Silence Your Creditors! That’s right—when you file Chapter 7 bankruptcy, you may be freed of creditor calls and collection letters through the Chapter 7 bankruptcy automatic stay.
Chapter 7 Bankruptcy May Eliminate Debt! If you qualify to file for Chapter 7 bankruptcy and complete the necessary bankruptcy requirements, you may be able to eliminate most—if not all—of your debts. Once you receive your Chapter 7 debt discharge, you’ll no longer be responsible to paying those unsecured bills.
Fill out our free Chapter 7 bankruptcy case evaluation form or call 1 (888) 632-0501 to have Chapter7.Me connect you with a local bankruptcy lawyer who can help you determine if you qualify for this consumer bankruptcy protection.
The Chapter 7 Debt Discharge & You
When people file for bankruptcy protection under Chapter 7, they get their unsecured debts forgiven.
Unsecured debts are defined as debts that aren’t tied to any item or property. With this type of debt, if you happen to miss payments, a creditor is not allowed to take your property to satisfy the debt. A lender’s available legal action is to sue you for the amount owed to receive a judgment—unless you have the protection of Chapter 7 personal bankruptcy.
Debts that are considered unsecured include:
- credit card debt;
- medical bills;
- utility bills;
- some store cards;
- unsecured personal loans;
- some membership dues;
- cell phone bills;
- signature loans; and
- credit lines.
If you are seeking to relieve yourself from any of the kinds of debts listed above, filing Chapter 7 bankruptcy may be a good option for you. To learn more about filing Chapter 7 bankruptcy, visit our Chapter 7 Bankruptcy Basics section and check out our Chapter 7 case timeline.
Could Chapter 7 be right for you? Begin our free attorney evaluation form
Which of Your Debts May Not Be Discharged in Chapter 7 Bankruptcy?
Some debts aren’t allowed to be discharged when you file Chapter 7 bankruptcy, including:
- child support;
- mortgage payments;
- some car loans;
- alimony;
- student loans;
- tax debts;
- most court-ordered fines; and
- debts incurred in fraudulent business deals.
If you’re looking to clear your debt on some of the above-listed debts, there may be other ways you can find financial freedom. Visit our Alternatives to Chapter 7 Bankruptcy section for more information.
Make A Decision With the Help of a Bankruptcy Lawyer
Chapter7.Me can provide you with current and relevant Chapter 7 bankruptcy information; however, we know you may want to talk one-on-one with a Chapter 7 bankruptcy lawyer.
We understand that filing personal bankruptcy is a major decision—that’s why we are sponsored by an extensive network of participating bankruptcy lawyers ready to discuss your individual situation. One of our sponsoring bankruptcy attorneys can help you decide if filing bankruptcy is the right move for you.
Connect to a local bankruptcy lawyer by filling out our no obligation, free Chapter 7 bankruptcy case evaluation form or by calling 1 (888) 632-0501.