Chapter 7 Bankruptcy

Is Chapter 7 the Right Choice?

Are you tired of being harassed by creditors at work and at home? Are you concerned that your debt problems might cause you to lose your home? You are not alone. Millions of Americans are currently bogged down by serious debt obligations that affect their ability to provide for their families and enjoy life.

Chapter 7 bankruptcy is one form of debt relief available to alleviate your debt problems. Chapter 7 involves a complete liquidation of any non-exempt assets. In other words, all your assets that are not protected by federal law are sold by a trustee who then distributes the proceeds of each sale to your creditors to fulfill your outstanding debts. In return, your debts are discharged and you are able to obtain a fresh start.

Declaring Chapter 7 bankruptcy has several benefits including

  • Helps people who do not have the financial wherewithal to make payments under a reorganization plan
  • Stops creditor harassment in attempting to collect a debt
  • Discharges your outstanding debt
  • Stops foreclosure proceedings
  • Allows you to negotiate your bills with creditors
  • Gives you the opportunity to better manage your debt in the future

The New Bankruptcy Laws Do Not Affect Most People

In 2005, new bankruptcy laws were passed that made changes to the requirements and procedures for obtaining a bankruptcy. In the majority of situations, these laws have had little, if any, effect on an individual's right to obtain bankruptcy relief. In order to determine if you are eligible, a means test is used that assesses your financial need for a bankruptcy. Credit counseling is also required. Attorney Marine is well-versed in these laws and can explain their implications for your situation.

Honest, Straightforward Advice

If you are considering Chapter 7 bankruptcy, attorney Marine can work with you to determine if it is the right choice for you. He will provide honest, straightforward advice that you can understand. His comprehensive bankruptcy practice is the only one serving both Aiken County and Edgefield County, South Carolina.

For an initial consultation fee of $60, he will meet with you for approximately an hour to discuss how to best alleviate your debt problems. He will review your assets, pay stubs, and the amounts you owe to creditors to determine if filing for Chapter 7 is a viable option for you. For more information, please contact our bankruptcy lawyer.