3 Benefits of Chapter 7 Bankruptcy
By Brenner Spiller & Archer, LLP | January 6, 2021
Bankruptcy sometimes gets an unfair stigma attached to it. The reality is that it helps many people get out of financial trouble.
Credit card bills pile up, life circumstances suddenly change. Whatever the problem, bankruptcy gives people the chance to start over.
When you file a Chapter 7 bankruptcy, you’ll be assigned a trustee to make a record of your assets and then sell the non-exempt assets to pay off your creditors. This is why Chapter 7 is known as liquidation bankruptcy.
Here Are 3 Reasons to File Chapter 7 Bankruptcy
1) Most types of unsecured debt will be discharged, including credit card debt and medical bills.
2) If you stay current on payments and don’t have a large amount of home equity, you could keep your home and vehicles.
3) You can begin to re-establish your credit almost immediately.
Contact Our NJ Bankruptcy Lawyers
The bankruptcy lawyers at Brenner Spiller & Archer, LLP provide friendly, caring, and affordable legal services. We serve clients throughout central and south Jersey with offices in West Berlin, Mount Holly, Vineland, and Freehold.
Call 856.925.9215 Today to Get Your Free Consultation
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.