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”.

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