Filing Chapter 7 Bankruptcy Is Easier Than You Think
The term “bankruptcy” can be frightening. For many people, it indicates a substantial loss. The truth is, the only loss most people feel when they file bankruptcy is a loss of stress or loss of debt. Bankruptcy truthfully provides an opportunity to have your debts discharged so you can start over with a clean slate and begin to rebuild your financial future.
Filing bankruptcy is a structured process, but there are still many differences between debtors that must be accommodated. Everyone has varying income and debts to address. Kristen A. Stanton, Attorney at Law, provides individuals and families with debt relief options that are customized to their needs.
Retain Control Of Your Financial Future
Decisions are always kept in our clients’ hands. Our mission is to provide the understanding, straightforward information and reliable guidance necessary for making informed decisions. Typically, our clients end up surprised at how painless and efficient the bankruptcy process really is, and at no point do they feel like they are being led down the wrong debt relief path.
Giving You A Fresh Start
Chapter 7 bankruptcy provides individuals a means to have unsecured debts discharged (forgiven). To qualify for Chapter 7 bankruptcy, a debtor must not have filed for Chapter 7 bankruptcy within the last eight years and have income that falls below a certain threshold for your household size.
Income qualification is determined by the “means test,” which takes into account a debtor’s income, assets and debts. If income falls below a certain level, then the individual’s assets are collected and distributed among creditors, with the remaining debt being discharged.
The process of “liquidation” is done by a bankruptcy trustee who oversees proceedings. Bankruptcy exemptions apply to save certain levels of equity and assets, which results in few individuals actually losing any assets to liquidation.
Bankruptcy is actually a relatively painless process where your credit card debts and medical debts can be discharged without you losing the assets you have worked for.
Help Is Just A Phone Call Away
Our fees are affordable and competitive, and we are available for after-hours appointments when necessary for our clients’ convenience. We can be reached online or call our Defiance office at 888-512-6925 for more information.