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Chapter 7 Bankruptcy

Chapter 7 Bankruptcy Lawyer in Norwich CT

You’re probably here because you feel you’re losing the battle with debt and you want to consider declaring chapter 7 bankruptcy. If you’ve exhausted your debt relief options you’ve come to the right place today. For those feeling overwhelmed with debt, Atty. Dave Falvey will help you determine your best and most optimal debt options.

At the Bankruptcy Center of Dave Falvey in Norwich, we advise clients through their debt relief options. One of these options is filing Chapter 7 bankruptcy which allows you to wipe out most of your unsecured debts. The information below will give you a general idea of how Chapter 7 works. You can read our debt options comparison chart for a point by point comparison of the pros and the cons for each option.

Once you’ve got a better overview of your options, contact us to schedule a free consultation.

Chapter 7 Bankruptcy Basics

Chapter 7 bankruptcy eliminates most debts and you to make a fresh start. Certain of your non-exempt assets may or may not be sold to settle your debts with the creditors. Once declared, Chapter 7 instantly stops creditor harassment, wage garnishments, collection lawsuits and any other various attempts at collecting money from you.

Chapter 7 bankruptcy isn’t for everyone, and not everyone qualifies. The bankruptcy means test must be taken in order to determine you qualify for and can declare Chapter 7 bankruptcy. If your income is too high, or if another factor has led to your ineligibility, you can still qualify for Chapter 13 bankruptcy.

Because of the differing variables associated with each person’s particular case, speaking with a bankruptcy specialist is the only way to actually receive the most optimal information as to which options are available to you and which one you should consider.