A New Beginning With Bankruptcy – Chapter 7 Bankruptcy
No one ever expects it to happen but everything get out of control and you are in debt far over your income. No one wants to think about filing bankruptcy but sometimes you just dont have a choice. Chapter 7 bankruptcy allows you to emerge from a difficult experience and start all over. Chapter 7 bankruptcy is when a debtors assets are sold and the money is distributed to his creditors. If a debtor has no assets, his fresh start is achieved that much quicker.
Chapter 7 is the most common style of bankruptcy. This type of filing is most common, claiming about 65% of all bankruptcy filings. As long as the creditors have no objections, the debtor can be free of debt within a few months.
A debtor will not lose their house or car if they agree to continue to pay for these items. Many people are unfamiliar with this information and wont even check into Chapter 7 bankruptcy. The only drawback to Chapter 7 is that you are unable to file bankruptcy within six years after a previous bankruptcy discharge.
How do you file a Chapter 7 bankruptcy claim? The easiest answer to this is to contact a...
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