Chapter 7 Bankruptcy

Deciding to declare bankruptcy can be a complex and difficult decision-making process. HalprinLaw attorneys are dedicated to providing quality and cost effective legal guidance to our clients throughout this process and beyond. We understand the stress involved when debt is mounting and creditors are calling.

By working closely with you and ensuring the right course of action, the HalprinLaw team helps our clients to make the best decision for their unique situation.

Declaring Chapter 7 Bankruptcy Can:

  • Wipe out debt
  • Stop creditor Harassment
  • Stop wage garnishment
  • Stop eviction
  • Stop foreclosure
  • Save your home and car

Chapter 7 is a federal bankruptcy law enacted by the U.S. Congress to provide single and married individuals (including some owners of sole proprietorships) who experience financial difficulty a way to start over.  Filing for Chapter 7 protection allows individual debtors to discharge (not pay) most unsecured debts, debts for  which there is no collateral. Unsecured debts include many but not all purchases made on credit cards. Filing under Chapter 7 normally allows you to keep your assets and then start over.

What Does Filing Chapter 7 Discharge?

Chapter 7 generally does not discharge student loans, certain IRS debts, support obligations, or debts arising from fraud, the infliction of a willful malicious injury or restitution.  If you decide to file Chapter 7, our lawyers will work with you to create schedules outlining your creditors, assets, income and expenses. These schedules are
signed by you and filed with the court along with a voluntary petition for bankruptcy. Once these documents are filed, creditors are automatically legally prohibited from suing, calling or engaging in other collection actions against you.

It generally takes approximately three and one-half to five months before the Bankruptcy Judge signs the discharge order and you are relieved of all dischargeable debt.  By filing for Chapter 7, you are usually allowed  to keep your home and vehicles provided you continue to make your normal monthly payments to the mortgage or finance company.

For more information on your unique situation, call us for a free consultation at 215-389-6913 or 1-866-86-HALPRIN or via email at halprin@HalprinLaw.com.

HalprinLaw attorneys value each and every client.