Chapter 7 Bankruptcy is probably the most well known type, and many people know it as “total liquidation” bankruptcy. This serves to frighten many people away from filing a bankruptcy claim, but for many of them, Chapter 7 Bankruptcy may be the best option. When filing for Chapter 7 Bankruptcy, an individual eliminates all of his or her debts and starts fresh. In many situations, someone filing for Chapter 7 Bankruptcy can keep his or her home and car. However, it is important to determine exactly how much debt you have, because not all debtors are eligible to file for Chapter 7 Bankruptcy. A bankruptcy lawyer from the Law Offices of Schneider and Stone can help you build a strong bankruptcy plan.
The following two questions can help you determine whether you can file for Chapter 7 Bankruptcy and wipe your financial slate clean:
If you answered "no" to either of these questions, you may be eligible to file for Chapter 7 Bankruptcy. Even if you are not, you may be able to file for Chapter 13 Bankruptcy. The experienced legal professionals at the Law Offices of Schneider and Stone can answer any questions you might have about Chapter 7 Bankruptcy or other options available to you. We can even help you stop foreclosure on your home. We serve clients in Chicago, Skokie, Naperville, Warrenville, Aurora, Waukegan, Joliet and Wheaton, and we want to do everything we can to help you. Contact an experienced bankruptcy attorney from our firm today for a free consultation.
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