Benefits of Chapter 7 Bankruptcy
Are you considering a Chapter 7 Bankruptcy? A chapter 7 bankruptcy, or a liquidation bankruptcy, allows you to get rid of most of your debts without making any further payments on them. A chapter 7 usually last about 3 ½ to 4 months and requires you to attend at least one hearing.
Stop Wage Garnishments
In most cases, a Chapter 7 bankruptcy will stop your creditor’s current garnishment and prevent them from starting up another.
Stop Creditors Harassment
A Chapter 7 bankruptcy will stop the annoying and embarrassing phone calls from your creditors and their debt collectors.
Protect Your Future Earnings
In Chapter 7 bankruptcy, you are not required to make payments to your creditors. This means you are able to keep your future income in many cases.
A Chapter 7 bankruptcy will eliminate your personal liability for most debts, including: credit cards, medical bills, judgments, and payday loans.
In most cases, you will receive your discharge in about 4 months from the date your petition was filed.