Chapter 7 Bankruptcy
Most people who have reached the point of considering bankruptcy will qualify under Chapter 7 or Chapter 13 of the U.S. bankruptcy code. Chapter 7 bankruptcy offers more sweeping change to help people get back on their feet.
Is Chapter 7 bankruptcy right for you?
If you meet the financial requirements, Chapter 7 may be the best option for you if:
- You have more credit card or medical debt than you can realistically pay, even over a longer period of time at a lower interest rate
- Your family has experienced a loss or long-term drop in income (for example, someone took a job at lesser pay, became unemployed for a period of time, or lost child support)
If you are not able to file under Chapter 7, you may be eligible for Chapter 13 bankruptcy. When we meet with you, we can explain the criteria for each.
What Chapter 7 Offers
Filing for Chapter 7 bankruptcy will stop creditor harassment and put a halt to collections activities against you. This action alone provides tremendous immediate relief to many people. At the end of the process, your credit card debt, medical bills and other unsecured debt will be greatly reduced or completely eliminated, giving you a chance for a “fresh start.”
The Bankruptcy Process
An attorney at Henry & Beaver will meet with you to review financial information in preparation for filing a petition for Chapter 7. Our bankruptcy attorneys – Marc A. Hess, John H. Whitmoyer and Roberta Santiago – each have significant experience handling bankruptcy matters. Your lawyer will explain the process to you and advise you on what is likely to happen in your case.
The first step in any bankruptcy filing is pre-bankruptcy counseling. We can help you find a counseling program near you.
We will prepare all documents and file a petition with the court. There will be one meeting with a bankruptcy trustee, your attorney, and possibly some of your creditors. At that meeting a decision will be made about how different types of assets and debt will be handled. The entire process of Chapter 7 bankruptcy takes roughly 4 to 6 months.
Contact Our Lebanon Law Firm
Contact us today via email or call us at 717-274-3644 to schedule a free and confidential consultation. We practice in the Bankruptcy Courts of the Middle District and Eastern District of Pennsylvania.
We are a debt relief agency that helps people file for relief under the United States Bankruptcy Code.