Chapter 7 Bankruptcy Attorneys

Sometimes, when life throws the unexpected at you, you may be forced into financial distress. In what may seem the blink of an eye, you can accumulate massive amounts of debt with no way of paying it back. If you do find yourself unable to pay off your medical bills, credit card balance, or pay back payday loans, you may consider filing for bankruptcy.

At Wetzel Gagliardi Fetter & Lavin, LLC, our bankruptcy attorneys will work with you to help you discern which type of filing works best for you. Oftentimes, individuals who find themselves in overwhelming debt may consider filing Chapter 7 bankruptcy. If you are considering filing for bankruptcy, give our legal team a call.

Who Qualifies for Chapter 7 Bankruptcy?

Individuals, partnerships, corporations, and other business entities may be eligible for Chapter 7 bankruptcy. Generally, chapter 7 bankruptcy is reserved for those individuals or entities that do not have a consistent source of income to pay off debts. You will be disqualified if your current monthly income is more than the state median. Under the means test, you must enter your income and expenses to determine if you are below the income limit.

Keep in mind that you can only petition the court for a Chapter 7 filing every eight years.

Assisting You in Liquidation and Discharge of Debt

In most Chapter 7 cases, you will be able to keep your car, clothing, and tools you use as part of your profession. The court can discharge your debt with the exception of non-dischargeable debt. Non-dischargeable debt includes student loans, back taxes, child support, alimony, court judgments, tax liens, and liens against your property.

When you work with our Chapter 7 bankruptcy lawyers, we will guide you through the process of discharging debt and devise a plan to help you pay off any remaining debt that is ineligible for discharge.

Discuss Your Case with a Chapter 7 Bankruptcy Attorney

Filing for bankruptcy can be stressful, requiring that you make strategic decisions to dig yourself out of an unmanageable situation. Adding to that stress is the knowledge that a decision like this will have long-lasting implications in your life. If you are considering bankruptcy, reach out to our Chapter 7 bankruptcy attorneys at Wetzel Gagliardi Fetter & Lavin, LLC today to schedule your consultation.