Litvak Legal Group, PLLC.
Chapter 7 Bankruptcy Facts:
- Available to Individuals, Married Couples, Corporations and Partnerships
- Known as Liquidation Proceeding
- Exemptions Available to protect some assets like cars, tools, books, jewelry, firearms and other personal items.
- Usually recommended for "no assets" clients, where people may have no assets outside of the available exemptions to liquidate.
- Clients must qualify for Chapter 7 Bankruptcy, which is know as Means Test. Clients must be below a certain income threshold ($50,501 for Single, $60,058 for Joint filers).
- Must Complete Pre- and Post- Filing approved debtor education programs.
- Automatic Stay will stop Collections, Creditors' Calls and even most Law Suits.
- Individuals and Married Couples can discharge most of their debt.
Additional Debt Relief strategies are available to further help clients with non-dischargeable debt.
Please contact us
at (215) 515-7113 or (732) 624-6283
for you FREE and NO OBLIGATIONS
Chapter 7 WILL NOT discharge:
- Most Tax Obligations
- Child and Spousal Support
- Student Loans
- Criminal Fines
- Reaffirmed Debt
Discharge is not available to Partnerships and Corporations
Call your attorney directly