Talk to a Lawyer About How Chapter 7 Benefits You
Chapter 7 bankruptcy provides for "liquidation" of your existing debts through sale of your non-exempt property and distribution of the proceeds to your creditors. At The Law Offices of Neil Crane, LLC, in Hamden, Connecticut, we often guide our clients through the Chapter 7 bankruptcy process while explaining to them the benefits of filing this type of bankruptcy.
There are many benefits to filing for Chapter 7 bankruptcy:
- Unsecured debt relief: Filing Chapter 7 bankruptcy relieves most unsecured debt obligations — like credit card debt and personal loans — and enables people to focus on more critical debts, like making mortgage payments on their homes. Secured debt is a loan in which the borrower pledges some asset, like a car or property, as collateral for the loan. Unsecured debt is a loan that is not backed by collateral.
- State and federal tax relief: Chapter 7 bankruptcy can provide for discharge of certain federal and state tax debt, but it is best to talk with an attorney about your specific situation.
Retain an Experienced Bankruptcy Attorney
Never has retaining experienced bankruptcy counsel been as crucial as it is today. With a working knowledge of all available options, the attorneys at The Law Offices of Neil Crane, LLC, can diagnose, counsel, and expertly respond to the problems of people whose debt has become unmanageable.
We offer free consultations. Please do not hesitate to call us today at 888-249-3027, toll-free 1-800-616-DEBT, or complete our online contact form to discuss your questions and concerns with an experienced attorney.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
