1. Home
  2.  → Chapter 7 Bankruptcy

What Would A New Day Free From Debt Feel Like?

Think about it? When was the last time in your adult life you weren’t in debt? Most of us start taking on credit card debt or bank loans right after high school. By the time we’re finished with college or secondary training, we’ve been accumulating debt for years, and that doesn’t even include student loans.

Get Out Of Debt

First, you are not alone. Tens of millions of Americans are slaves to their credit card companies, medical providers, banks and car dealerships. It’s a hard existence living paycheck-to-paycheck, always afraid to answer the phone or open a collection letter.

At Clark Law PLLC*, we want you to know you have another option. When you file Chapter 7 bankruptcy, you have the legal, court-supervised right to eliminate most or all of your consumer debt. This includes:

  • Revolving credit card debt, like Visa and MasterCard, Discover, etc.
  • Medical bills
  • Bank loans
  • Commercial loans
  • Tax arrears after certain conditions have been met

In The Process Of Getting A Divorce?

Remember, marital debt is also considered marital property and subject to equitable distribution laws. In many cases, filing for bankruptcy before divorce proceedings make good financial sense. In other cases, the divorce settlement may leave you in debt you can’t handle. Talk to our attorney about the best option for handling your debt problem.

Is Getting Rid Of Debt Automatic?

Notice on the list that certain kinds of debt may not be eliminated. But in general, yes, consumer loans and credit card debt can be eliminated. There are rules and conditions the court will make you follow. In general, though, most Chapter 7 filers eliminate their consumer debt and get a fresh start. Imagine what your life will be like if you can start saving for your own future?

But What About Your House And Car?

Under most circumstances, people filing for Chapter 7 may “exempt” one automobile loan and their mortgage. That means there is a good chance you can keep your house and car, as long as you agree to continue making payments according to the loan agreements. Again, everyone’s situation is different, so don’t take anything for granted. Talk to our Chapter 7 bankruptcy attorney.

What About Collections Calls

The day you file, an automatic stay of execution (stop order) will be placed on any legal action any of your creditors may be taking against you for collections. Bill collectors are under legal obligation to immediately stop all further collections calls and letters. You can even stop any payroll wage garnishments in place against you.

Contact Us

Let us answer all of your questions. Call us at +1-603-473-4338 or contact our office in Manchester by email to arrange a consultation with our Chapter 7 bankruptcy lawyer right away. Sleep better tonight.

*We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.