Chapter 7 bankruptcy is often called the fresh start option because it allows you to wipe out most or all of your unsecured debt, including medical bills, credit card bills and utility bills. Compared to other types of bankruptcy, the process can be done relatively quickly. With Chapter 7 bankruptcy, you can eliminate most of your unsecured debt in roughly three to four months. It offers individuals immediate relief from creditors.
There are several protections that are triggered when you file for bankruptcy. The minute a Chapter 7 is filed, an “automatic stay” goes into effect. When you file for bankruptcy, creditors are prohibited from continuing with their collections efforts, so you don’t have to endure harassment or any form of communication from them. This means that no creditor can call you, they cannot write to you and they cannot sue you. If a lawsuit is already pending against you, it is stopped upon your bankruptcy filing. The filing of a bankruptcy procedure will immediately stop collection calls and collection actions against you, and will terminate wage garnishments. If you are going through any of these scenarios, Chapter 7 may be the best option for you. Discuss your particular situation with a lawyer and they can go over the eligibility requirements with you.
Chapter 7 Bankruptcy Filing Procedure
The Chapter 7 filing procedure includes gathering the proper documentation and filing them with the bankruptcy court.
We have been helping clients through the Chapter 7 filing process for more than 20 years. As one of the few Connecticut Chapter 7 trustees, Attorney Ronald Chorches can help you with both ends of the filing procedure. Moreover, he will facilitate the process for you.
We will help you gather and organize the documentation you need including your income, debts, expenses and property. Furthermore, we’ll prepare you for the bankruptcy 341 hearing – also known as the meeting of the creditors.
Once you’ve decided to declare bankruptcy, you’ll be advised as to how to obtain the best possible outcome in your case. We’ll advise how to get all your eligible debts discharged so that you can have a fresh financial start.