Chapter 7 Bankruptcy
Chapter 7 bankruptcy eliminates most unsecured debt, stops wage garnishments, bank levies and most court action. In Chapter 7, your unsecured debts are usually “wiped out” in a matter of months. Certain debts remain, including debts secured by real estate or a motor vehicle, student loans, domestic support obligations and taxes. Chapter 7 debtors are limited to certain income amounts and can only have a limited amount of non-exempt assets. With Chapter 7, You are a given a “fresh start”. After all, “it’s never too late to start over”.