Raleigh Chapter 7 Bankruptcy Lawyer
Helping You Find a Solution to Your Financial Crisis
When you feel like you are drowning in an ocean of debt from credit card bills, medical payments, and other unavoidable expenses, you need to know that you are not alone. One way to find an escape from overwhelming debt is by filing for Chapter 7 bankruptcy.
At the Venters Law Offices, we can help you not merely stay afloat over your financial anxieties but also conquer them once and for all. You can count on us to help you navigate the most appropriate solution to your difficult situation. Many of our clients have found great relief from aggressive creditors and financial setbacks by retaining support from our reliable Chapter 7 bankruptcy lawyer in Raleigh.
Do I Qualify for Chapter 7?
Individuals, couples, and businesses may file for Chapter 7. Businesses typically file if they are on their way to shutting down, whereas consumers must meet some requirements before being able to file.
To qualify, you must:
- Pass the means test.
- You must have not filed a Chapter 7 or Chapter 13 case that was dismissed within the last 180 days.
- You cannot have filed Chapter 7 in the last 8 years.
- You cannot have filed for Chapter 13 in the last 6 years.
What Debt Can Be Discharged in Chapter 7 Bankruptcy?
Chapter 7 bankruptcy is one of the best ways to get rid of debt for good. If you qualify, you can likely discharge most—if not all—of your debts, depending on the type of debt you owe. As a result, you can finally be free from relentless creditors.
Here are just a few examples of the types of debt that Chapter 7 may eliminate:
- Credit card debt
- Unsecured personal loans
- Store accounts
- Certain tax obligations
- Debt on account of trade or to a vendor
- Medical bills
- Personal liability from guaranteeing another person’s debt
- Deficiencies in balances after foreclosure or repossession
Unfortunately, certain types of debt cannot be discharged, including:
- Student loans (with very limited exceptions)
- Obligations to marital/domestic affairs (e.g. alimony or child support)
- Any recompense for criminal/fraudulent/negligent behavior
- Certain tax obligations
- Secured debt (e.g. mortgages and automobile loans)
How Chapter 7 Bankruptcy Works
Not everyone will qualify for Chapter 7 bankruptcy. You will need to demonstrate eligibility through the means test, which assesses your income, expenses, assets, and debt. Our dedicated attorney at the Venters Law Offices can help you figure out whether you are eligible.
If you successfully pass the means test, you will need to complete a credit counseling course approved by the court. You can then file your petition, which will immediately trigger the automatic stay. The automatic stay halts all collection activities from creditors and lenders.
Compassionate & Responsive Service
Extensive Experience in Bankruptcy Law
Free Initial Consultations
Spanish Services Available