Wipe Out Debt With Chapter 7 Bankruptcy
When debt gets out of control, sometimes there is simply no way of paying it off. With mounting interest, late fees and increased threats from creditors, it may seem there is no hope. This is not the case.
The law offers hope in the form of Chapter 7 bankruptcy. In Chapter 7 bankruptcy, a debtor’s assets are liquidated to pay off creditors. The remaining debt is discharged, leaving the person who was in debt with a fresh financial start.
If you are struggling with debt in Maryland, Kindlund Legal LLC can help you explore your debt relief options, including Chapter 7 bankruptcy. With more than 30 years of bankruptcy law experience, I am prepared to help you put your debt problems behind you for good.
- When It Comes To Chapter 7, What Debts Are Going To Be Dischargeable?
- How Long Does A Chapter 7 Bankruptcy Stay On Your Credit Report?
Will I Lose All My Assets?
Liquidation of the debtor’s assets is a key component of a Chapter 7 bankruptcy, but that does not mean you will lose everything you own. Bankruptcy exemptions allow those who file to keep certain property such as a house, car, professional tools and many personal possessions. People who qualify for Chapter generally have few qualifying assets, although every situation is different.
As a former bankruptcy trustee, I have seen how Chapter 7 bankruptcies play out from both sides. I draw upon my experience on the other side of bankruptcy law to help my clients to the greatest extent allowed by the law.
Do I Qualify For Chapter 7?
Chapter 7 bankruptcy is means-tested, which means that if your income is too high compared to your expenses, you do not qualify. Many people who think they don’t qualify for Chapter 7 actually do, so you should consult with a knowledgeable bankruptcy attorney before making any important decisions.
Discuss Your Debt Relief Goals With An Experienced Lawyer
If Chapter 7 bankruptcy is right for you, I am here to guide you through all stages of the process. To arrange a free legal consultation at my Ashburn law office, call me at (240) 539-9393 or contact me online.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.