Get The Facts About Eliminating Your Debts Using Chapter 7
Are you suffering needlessly because of bad information about filing for bankruptcy? Yes, you can still file for Chapter 7 bankruptcy, and most people who do are able to keep their home, their vehicles, possessions and retirement savings.
Mahaffey & Associates, LLC, invites you to learn the facts about Chapter 7 bankruptcy and other debt relief options. With offices in Sylvania, Toledo and Northwood, we have helped people throughout northwest Ohio and southeast Michigan take advantage of a fresh financial start and get creditors off their backs. Contact us today for a free, no-obligation consultation.
Truth And Myth About Chapter 7 Bankruptcy
The 2005 adjustments to the bankruptcy laws make filing require more documentation and credit counseling, but most people who qualified for Chapter 7 before are still eligible. Chapter 7 bankruptcy allows you to walk away from certain types of unsecured debts such as credit card balances, medical bills and certain judgments. Debts discharged in bankruptcy do not have to be repaid.
From the date you file, credit card companies and other creditors must stop calling you and must stop garnishment of wages and all other collection actions. Most people lose no assets in a Chapter 7 filing. If you can afford to keep up with your mortgage and car payments after your bankruptcy, you can avoid home foreclosure and repossession and keep these assets.
Not all debts are eliminated in Chapter 7, and eligibility is based on your income. If you earn too much, are behind on your house payments or have assets you don’t want to lose, you may have to file for Chapter 13 bankruptcy.
Personal Attention For A Difficult Time Of Your Life
We represent many small-business owners and ordinary people who were laid off, suffered a medical crisis or otherwise incurred high debt with no hope of catching up. Our experienced bankruptcy attorneys will sit down with you to explain what debts you can discharge, what assets you can keep and how you can rebuild your credit rating.
Call any of our convenient office locations at (419) 827-5008 for a free initial consultation. We can arrange evening and weekend appointments to accommodate your busy schedule.
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