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Debt Negotiations and Work-outs
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Return to Bankruptcy Law
A Chapter Seven bankruptcy is designed for individuals who are unable to pay their debts. In many instances, the Debtor does not give up any assets. Businesses also utilize Chapter Seven to discharge their liability on debts.
A Chapter Seven begins with the filing of a petition, which, for the most part initiates the “automatic stay”. This prevents creditors from taking any action against you to collect a debt without following strict rules. For the most part, they cannot call you, they cannot write you, they cannot sue you, and they cannot continue to sue you if they have already started a lawsuit, unless allowed to do so by the bankruptcy court.
We can advise you on such issues as whether a debt can be discharged, whether you can, and how to keep, assets such as your home, your car, your retirements benefits, and on many other related issues.
Contact Us to discuss your legal matter today.
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