Reasons To Contact A Chapter 7 Lawyer

Chapter 7 attorney in Wilmington

Bankruptcy is a word many people dread hearing, but it doesn’t have to be the end, but a solution. Of course, all avenues should be explored prior to filing for bankruptcy, but there are advantaged to filing chapter 7:

• It puts at least a temporary stay on your creditors

• It allows to you to sort out your finances

• It lets you re-negotiate debt

• It may prevent having your property repossessed

A good portion of the process of Chapter 7 bankruptcy involves negotiation and agreements. It is not meant as punitive but is a way of hammering out a compromise between the debtor and creditor. You may be able to discharge a number of your debts but the following are not dischargeable:

• Alimony or child support

• Criminal fines

• Taxes

Your debts on property may be discharged or you can negotiate a new repayment plan with a creditor. This will enable you to keep your property and come up with a plan that is realistic for you. Chapter 7 bankruptcy is one of the most straightforward types of bankruptcy, and is the course chosen by individuals, families and partnerships. To learn more about Chapter 7 bankruptcy or to look for a Chapter 7 attorney in Wilmington, browse this website.

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