Debt Relief Through Chapter 7 Bankruptcy
Overwhelming debt can leave you unable to catch up on credit card bills, pay off medical expenses or continue making mortgage payments. Most people seeking bankruptcy options have already tried budgeting and have exhausted all other options. At Lein Law Offices, we are dedicated to helping individuals and families get out of debt and move toward a brighter financial future.
What Is Chapter 7 Bankruptcy?
Chapter 7 bankruptcy is one of the most common forms of bankruptcy. Also known as liquidation bankruptcy, Chapter 7 enables you to eliminate unsecured debt, including, but not limited to credit card debt, medical bills and deficiency balances left over from repossessed property.
A common misconception about Chapter 7 is that you will not be able to keep all of your possessions. The liquidation nickname applies to your debt rather than your possessions. Bankruptcy laws in every state provide for individuals to keep certain property as they go through bankruptcy. Before worrying about what property is protected, it is wise to speak to an attorney for guidance.
Chapter 7 bankruptcy is popular because it is the quickest form of bankruptcy. It is possible for individuals to complete this form of bankruptcy in a matter of months.
Stop Creditor Harassment And Wage Garnishment
Individuals facing lawsuits, including judgments and garnishments, often turn to Chapter 7 for relief. Unlike debt consolidation and settlement companies that negotiate with creditors, Chapter 7 bankruptcy offers injunctive relief backed by the power of the courts.
Once your bankruptcy has been filed, an injunction known as the automatic stay goes into effect. The automatic stay bars creditors from continuing to collect on debts against you. They may not attempt to contact you or pursue lawsuits against you. Any garnishments in place must stop. Any pending foreclosure sales will be halted.
You Are Not Alone In Dealing With Your Credit Card Debt
Many people use credit cards as a security blanket until it is too late. You may have gotten an additional card to pay off other debts or needed a card to pay off additional expenses. Unfortunately, credit card companies make it increasingly difficult for debtors to secure relief.
With rising interest rates and penalties, you may never recover from significant debt without filing bankruptcy. If you are overwhelmed by credit card debt or haven’t secured the relief you were promised through a credit counseling program, we can help.
Most of our clients have already tried a credit counseling service in an attempt to avoid bankruptcy. Do not put your financial stability off any longer. Call us toll free at 877-712-4023 as soon as possible.
Can I Get Rid Of The Debt?
As many as half to three quarters of the people who come to us first tried a credit counseling service in an attempt to avoid bankruptcy. In many cases, only bankruptcy can put an end to debt. Credit counseling can actually compound your problem, while bankruptcy can end wage garnishments and put you on the road to financial security.
Many people have a better credit rating after bankruptcy than if they hadn’t filed. Bankruptcy allows you to keep what you need to live on while getting out of debt.
How Long Does It Take?
A bankruptcy usually takes 120 days. Our attorneys will take the time to file your bankruptcy properly to ensure a timely completion.
Contact Lein Law Offices to schedule a free consultation with an experienced Hayward, Wisconsin, bankruptcy lawyer. We are local attorneys serving the needs of our local clients for over 25 years.
Free consultations — Flexible office hours and appointments — In-home and hospital visits available — Call us toll free at 877-712-4023.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.