Chapter 7 bankruptcy is the most common form of bankruptcy relief, offering a streamlined process to obtaining meaningful debt relief. Filing for bankruptcy relief allows individuals, married couples and businesses to eliminate overwhelming debt. It is inaccurate to view Chapter 7 bankruptcy as an admission of failure or the end of the line. Sometimes, Chapter 7 bankruptcy is your best option.
The process will put an immediate halt to creditor harassment – providing you with the peace of mind that your debt problems are over. A Chapter 7 bankruptcy filing completely discharges most debts of an individual or business. In most cases, an individual may keep certain significant assets. A business can continue operations.
Chapter 7 Bankruptcy For Individuals
For certain individuals, Chapter 7 bankruptcy provides complete debt relief and a chance to begin your financial life again. The alternative is Chapter 13 bankruptcy, in which you file a repayment plan that allows you to repay a percentage of your debt, based on a number of factors. Even If you have significant equity in your house, Chapter 7 bankruptcy may be right for you.
We will evaluate every aspect of your situation and provide you with a strategic plan to solve your debt problems.
If bankruptcy is the right solution for you, our firm can act immediately to relieve you of all of the burdens and stress that debt can create, including:
We can also help you take steps to restore your credit after bankruptcy.
Chapter 7 Bankruptcy For Businesses
Minnillo Law Group Co., LPA, has a successful track record of helping business clients restore their financial health through Chapter 11 bankruptcy filings, business reorganizations and through workouts without recourse to bankruptcy. However, when these are not viable options, it makes sense to take the Chapter 7 bankruptcy route.
In considering a business Chapter 7 bankruptcy, our attorneys will look for ways to isolate your personal assets from the business assets. Whether it involves an individual or a business Chapter 7 bankruptcy, we will draw on our substantial experience to put you in the strongest financial position possible at the conclusion of the process.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.