Fairfield Discharging Debt Through Chapter 7 Bankruptcy

Chapter 7 addresses all types of personal debt obligations to eliminate overwhelming bills while protecting essential assets like paychecks, homes, cars and other personal belongings. Full relief from unsecured debt through a properly prepared and filed Chapter 7 petition allows individuals and families to dedicate their monthly income to more important obligations like mortgages and the basic high costs of living found in Fairfield CT and throughout Fairfield County. Full debt relief under Chapter 7 protects all existing assets, all future assets and all sources of future income.

To learn how Chapter 7 can provide you with the fullest coverage allowable, contact an experienced bankruptcy attorney at the Fairfield County Law Offices of Neil Crane. You'll always speak directly with an attorney, we never use voicemail. Call us today at 203-230-2233 or toll free at 1-888-249-3027. You can also fill out our online Contact Form for a prompt response from our dedicated team of Fairfield County bankruptcy attorneys.

Full Unsecured Debt Relief at the Law Offices of Neil Crane

 

Properly prepared Chapter 7 petitions allow for relief from nearly all forms of unsecured debt. This means that mortgages and car loan payments continue but other forms of less important unsecured debts are eliminated or "discharged" in full.

The permanent debt relief from Chapter 7 includes bills like:

  • Credit Card Debts
  • Deficiency Judgments from foreclosures
  • Payday Loans
  • State Income Taxes over three years old
  • Federal Income Taxes over three years old
  • Personal Property Taxes over one year old
  • Personal Loans
  • Garnishments

Chapter 7 also relieves other forms of unsecured debts and allows for the reversal of recent actions by creditors like judgments, liens and levies.

The Automatic Stay and Assets Protected By Bankruptcy Exemptions

Two of the essential elements to financial recovery are protected by the ability to immediately halt all creditor collection activities and the ability to permanently protect personal assets necessary to pursue a future fresh start. The halting of all creditor actions is accomplished through federal laws which provide an automatic stay on all actions to collect immediately upon the filing of a bankruptcy petition. This is a powerful federal law that sets the stage for Chapter 7 recovery.

Bankruptcy Exemptions allow individuals and families to preserve the assets and belongings necessary to start and pursue their course for a new financial fresh start. These laws protect a wide variety of important personal assets, including:

  • Residential Home Equity
  • Bank Accounts
  • Pensions
  • Automobiles
  • 401K and other tax exempt accounts
  • Life Insurance Policies
  • Tools of the Trade
  • Household Belongings
  • 529 Accounts and others...

Exempting and protecting personal assets assures that anyone who seeks relief under Chapter 7 is allowed all the essential belongings and tools necessary to maximize their recovery.

To learn more about the proper utilization of the automatic stay of Chapter 7 and protect assets under Chapter 7, call the experienced Chapter 7 attorneys of the Law Offices of Neil Crane at 203-230-2233 or toll free at 1-888-249-3027. Or fill out our Contact Form for a prompt response today.