Chapter 7 is a way to eliminate your debts without paying anything to those you owe money.  This is sometimes called liquidation bankruptcy or straight bankruptcy.  This works best for those who have mostly unsecured debts such as credit cards, medical bills, check cashing or payday loans, or any other debt where there is no collateral for loan or for the money that is owed.

If you have a home mortgage or a car loan, you can usually keep your house and car by REAFFIRMING with those creditors if you are current on your payments.  However, Chapter 7 is only available to people who are not over the exemption amounts set by state law for their assets. Chapter 7 also has certain income limits per household.   

To determine if you can file a Chapter 7 Bankruptcy, call and schedule a free consultation.