Chapter 7 bankruptcy is known as "liquidation bankruptcy". This means it is quick, easy, and relieves you of unsecured debt in the fastest manner possible. In order to qualify to file a Chapter 7 bankruptcy, you must pass the "means test". This test has four levels and we will take you through each one until we find the level at which you qualify. If you can't qualify today, we create a plan so you can qualify later if you choose. If that's not possible, we can file a Chapter 13 or enter into debt negotiation with your creditors.
Once we file a Chapter 7 bankruptcy petition on your behalf, creditor actions against you must immediately cease. This is called the "automatic stay" and it means that creditors cannot call you or take actions to repossess your car or to foreclose on your house for a period of time. Many people are concerned that they will lose all their property if they file for Chapter 7 bankruptcy. NOT TRUE, in most cases, you will get to keep your property.
Filing bankruptcy is a legal right in our country and it is important to hire an attorney to represent you.
At Carolyn Moller Duncan, P.C., we help people achieve practical solutions to their debt challenges. A free consultation with us will cost you nothing, but it may save you a lot of pain, heartache, and money down the road. Before you cash out your IRA and retirement accounts to pay off your debts, PLEASE talk with us first. There is a great deal of misinformation out there so let's discuss your situation and look for the best option for the long haul.
Everyone's financial circumstances are different. What path you choose to pursue will depend upon your own unique situation. Carolyn and Bill Duncan are knowledgeable, caring, and practical counselors who focus on leveraging the complicated bankruptcy laws to your benefit.
Contact us to set up your free bankruptcy consultation and let's take the time to figure out the optimal debt-relief solution for your situation.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.