Chapter 7

Chapter 7 Bankruptcy in Ohio & West Virginia

Making a choice to file for bankruptcy is never an easy one. In addition to the negative stigma that is unjustly attached to bankruptcy, there is a mountain of paperwork to file and could have lasting financial repercussions. At the McCase Law Firm, we work hard to walk you through the Chapter 7 Bankruptcy process so you can get the financial relief you and your family deserve. You don’t have to face this alone. Contact the McCase Law Firm today to schedule a free consultation with a Chapter 7 Bankruptcy attorney.

What is Chapter 7 Bankruptcy?

Chapter 7 Bankruptcy is part of the U.S. bankruptcy code. It is one of the most common forms of debt relief and provides financial relief to those who are unable to repay their debts. Once a Chapter 7 Bankruptcy lawyer files the petition, creditors can no longer engage in collection practices or contact the debtor. As such, many people find immediate stress relief after filing this type of bankruptcy.

After filing for Chapter 7 bankruptcy, a trustee takes inventory of the debtor’s assets which they will use to repay the outstanding debts. In many cases, the court will allow a debtor to keep particular possessions such as their home and vehicle, both of which are typically deemed necessary to maintain a job and minimum standard of living. Some other exceptions can be made for sentimental items such as jewelry. The trustee will liquidate non-exempt assets and use the money to repay debts.

The bankruptcy court will specify a period of time in which any remaining debts are discharged. This leaves the debtor with a clean slate and a fresh start on a better financial future.

Dischargeable Debt Under Chapter 7

A common misconception with bankruptcy law is that Chapter 7 leads to a discharge of all debts. While it does provide significant relief, it typically only concerns unsecured debts. Unsecured debt is anyone where no collateral is put up to secure it. Unsecured debts such as credit cards, most personal loans, and medical bills are the most common types of debt that qualify for a complete discharge.

Secured debts such as child support, criminal penalties, and tax debt are not dischargeable under Chapter 7 bankruptcy.

Is Chapter 7 Bankruptcy Right for You?

Every case is different, but if you find yourself unable to get out of debt, a Chapter 7 bankruptcy may be the right choice for you. As mentioned above, you can expect near-immediate relief as collection practices stop. This means no more calls or knocks on the door throughout the day.

As good as that may sound, bankruptcy is no minor issue, and you should only use it when there are no other options. You should never have to choose between paying creditors and putting food on the table. If you are faced with a similar decision, Chapter 7 bankruptcy attorney Matt McCase is here to help.

Get the Debt Relief You Deserve from Chapter 7 Bankruptcy Attorney Matt McCase

The bankruptcy code is complex and can cause a significant amount of confusion to those who are unfamiliar with it. Thankfully, Matt McCase of the McCase Law Firm is here to provide the legal counsel you need to get the debt relief you deserve. Contact us for more information on Chapter 7 bankruptcy in Ohio and West Virginia and schedule your free consultation with a leading bankruptcy attorney.

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