Chapter 7 Bankruptcy Lawyers

Chapter 7 bankruptcy is often called a financial fresh start because it completely wipes out unsecured debt and allows those who file to start over with a clean slate. Chapter 7 is not for everyone — it is means tested. For those who qualify, it is an effective means of wiping out debt while stopping creditors from taking collection actions.

Those who earn too much to qualify for Chapter 7 may wish to consider filing for Chapter 13 bankruptcy.

If you are struggling with debt in Ohio and considering filing for bankruptcy, the attorneys at Van Ness Law are here to help you explore your options. If Chapter 7 bankruptcy is right for you, we can guide you through the process and help you pursue your debt relief goals.

Chapter 7 Liquidation

In a Chapter 7 bankruptcy, property is liquidated and the proceeds are used to pay back creditors. Many people fear this means they will lose all of their property in bankruptcy, but this is largely an unfounded fear. Most people who qualify for Chapter 7 have few qualifying assets to lose. You will be able to keep your house, car and personal possessions, in most instances.

The Means Test

The Chapter 7 means test takes into account your household income, expenses and other factors to determine if you qualify. If you believe that you may not qualify for Chapter 7 bankruptcy, you may wish to speak with an attorney. A simple miscalculation or even the timing of when you take the test can sway the result.

We can ensure that you are using accurate information and find a way to qualify you for Chapter 7, if possible. Every case is different and there are many misconceptions about bankruptcy, which is why it's important to discuss your options with an experienced attorney.

Talk To A Chapter 7 Bankruptcy Lawyer Today

With law offices in Mayfield Heights, we handle Chapter 7 bankruptcies for clients throughout the Cleveland metropolitan area. You can contact us online or by telephone at 800-648-1206 to arrange a free initial telephone consultation with a bankruptcy attorney.