WE HELP PEOPLE IN DIFFICULT TIMES!
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Chapter 7 or "Fresh Start" bankruptcy normally allows an individual
or married couple to discharge and/or "wipe out" unsecured debt (most
credit cards, medical bills, signature loans, judgments and deficiency
balances on repossessed items). As regards "secured debt" ie. for
instance, home loans, auto loans, etc. - the debtor may elect to either:
a) surrender the pledged collateral and be forgiven the attendant debt
and/or b) keep the asset and agree to pay for it over time.
When are you a good candidate for Chapter 7 Bankruptcy?
- IF you are unable to pay even minimum payments on credit
cards
- IF you have overwhelming medical bills and do not have
medical insurance to cover the cost of same
- IF you have had an automobile repossessed and are unable to
pay the deficiency balance owed the auto finance company
- IF you have gone through a mortgage foreclosure and are
unable to pay a deficiency balance owed the mortgage company
- IF you have had your bills turned over to a collection agency
and simply can't "catch up" on your obligations
- IF your paycheck has been garnished and your monthly budget
has been materially affected thereby
- IF you have gone through a divorce and been left with the
lion's share of the marital indebtedness
- IF you constantly worry that you cannot pay your bills on
time
The information you obtain at this site is not, nor is it intended to
be, legal advice. You should consult an attorney for individual advice
regarding your own particular situation.
[CHAPTER 7] [F.A.Q.] [PROCEDURE] [INFO NEEDED]
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