What is Chapter 7 bankruptcy?
Ch. 7 bankruptcy is your right as a U.S. citizen!
Ch. 7 refers to a portion of the U.S. bankruptcy code that deals with liquidation. If you’re overcome by unsecured debts such as credit cards, medical bills, personal loans or wage garnishments, you’re probably a good candidate for Ch. 7. Also known as “straight” or “liquidation” bankruptcy, Ch. 7 is the most common form of bankruptcy in the U.S. It’s also the fastest way to get out of unsecured debts. In some cases, debts can be discharged in just a few months!
Here are some of the most common debts Ch. 7 can eliminate:
- Credit card debt
- Utility bills
- Medical bills
- Many types of personal loans
- IRS debt
- Payday loans
- Wage garnishments
Not sure if Ch. 7 is right for you? Talk to a DebtStoppers bankruptcy lawyer at no cost to find out if Ch. 7 or Ch. 13 could be the solution to your debt troubles. Call us at 800-440-7235 or fill out our free one-on-one debt analysis form online.
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