Chapter 7 Bankruptcy Allows Consumers to Discharge Debt

Helbing Consumer Law counsels individuals and couples seeking relief

Sometimes situations beyond your control can profoundly impact your earning potential and lead to overwhelming debt. If you find yourself unable to pay your bills, you may want to consider filing for bankruptcy. Designed to give debtors a fresh start, Chapter 7 bankruptcy gives you and your spouse relief from debts through liquidation of your assets. Once you have filed for bankruptcy, creditors must immediately stop collection efforts, including harassing letters and phone calls.

Means test for qualifying debtors

To qualify for Chapter 7 bankruptcy relief, you must satisfy the court’s means test, which calculates your income and expenses compared to the median income. If you are not eligible for Chapter 7 bankruptcy, Chapter 13 may be available. Helbing Consumer Law can help you determine whether you are eligible for Chapter 7 bankruptcy and if it is your best solution for dealing with your debts.

Discharge of some, but not all, debts

We can help you determine which of your assets are eligible for exemption and negotiate with the trustee to preserve these assets from bankruptcy liquidation. Upon conclusion of the bankruptcy proceedings, the court grants a discharge of your debts. Certain debts, however, cannot be discharged through bankruptcy. These include back child support and alimony payments, student loans, recent back taxes, and court judgments based on personal injury claims. Our attorneys advise you about how much of your debt is dischargeable, so you can make an informed decision about whether to pursue Chapter 7 bankruptcy.

Preparing for your appointment

So that we can immediately begin analyzing your case, it is necessary that you bring certain information to your appointment with Helbing Consumer Law, including:

• A list of your creditors’ names
• Amount of each claim and nature of the debt.
• Your employer’s name
• Your gross and net income

Other sources of income and amounts A list of what you own and estimates of the value of each item A list of your monthly bills and details of each expense
Contact experienced bankruptcy attorneys. Call Helbing Consumer Law at (800) 496-3042 or contact us online to schedule your bankruptcy consultation.