For borrowers struggling with unsecured debts they can't pay, Chapter 7 bankruptcy provides a wide range of benefits designed to help you get a second start at life. This program, which is the most popular form of bankruptcy protection, can eliminate much of your debt, along with providing a wide range of other benefits. Richard A. Sadoff Attorney at Law, with law offices in Hebron, Covington, and Blue Ash with more than 20 years' experience in bankruptcy law, is here to explain what a Chapter 7 does, and how to decide whether it might be right for you.
Applicants filing for a Chapter 7 bankruptcy must pass a means test that determines whether it's possible for you to pay your bills with your current income. If you qualify, the court can completely discharge most unsecured debts, including medical bills and credit card debt. In return, the court will seize your assets to pay off as much of your debt as possible, but an attorney experienced with asset protection will be able to help you keep as much of your property as possible.
In addition to discharging your debts, bankruptcy also includes an automatic stay, which requires that creditors immediately cease all collection activities, including wage garnishments, lawsuits, as well as harassing phone calls and letters.
While your bankruptcy will appear on your credit report, the benefits far outweigh the negatives. Visit Richard A. Sadoff Attorney at Law online to learn more about your debt relief options or for help putting a stop to repossessions or foreclosures. To schedule a consultation, call (859) 261-6200 today.