Contrary to what you may have heard, Chapter 7 bankruptcy does not automatically liquidate all your assets. In fact, when properly handled by an attorney like Thomas Betker, Chapter 7 debtors can exempt many of your assets from creditors.
You may also have heard that your income is too high to qualify for a Chapter 7 bankruptcy, but that may not be the case. Sit down for a FREE initial bankruptcy consultation
and let us outline what is and isn't possible.
Before you file for bankruptcy, let us educate you on legal strategies you can use to protect your assets. An initial consultation is the key to identifying the alternatives available to you.
Once you file a Chapter 7 bankruptcy petition, your creditors have to stop all of their collection activities.
- Harassing phone calls and bills
- Wage garnishment
- Threats of lawsuits
You can then choose which assets you intend to keep, such as a car or home, and you will maintain your payments on those items. You will also choose which items you are willing to let go, and by doing so, you will eliminate those remaining liabilities.
Some debts, however, cannot be wiped out, including student loans, child support, alimony and certain taxes. Ask us for details. We're local and always available to help.
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