Chapter 7 Bankruptcy

Chapter 7 Bankruptcy


Chapter 7 Bankruptcy

 

A Chapter 7 bankruptcy is a straight liquidation. Chapter 7 bankruptcy is ideal for people in these situations:

  • Your household income is less than the median, or you can pass the means test
  • You have primarily unsecured debt
  • You wish to surrender a home or a vehicle that you can no longer afford
  • You are current with your home or your vehicle, and you wish to keep them but get rid of all of your unsecured debt

When someone files a Chapter 7 bankruptcy, an automatic stay takes effect immediately, and any repossessions, foreclosures, and garnishments will immediately cease.

A bankruptcy attorney can review your income, assets, and debt and help you determine whether a Chapter 7 bankruptcy is right for you.

Freedom Law, PC

The Kennedy Building
18121 East 8 Mile Road
Suite 301
Eastpointe, Michigan, 48021

One convenient number
Phone, text, or fax:

313-887-0807

Our Wyandotte location

Wyandotte Office

1815 Ford Avenue
Wyandotte, Michigan, 48192

One convenient number
Phone, Text, or Fax:

734-822-6762