Bancruptcy Chapter 7

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Bancruptcy Chapter 7 is where you eliminate debt, and do not pay it back. It's the most common kind of bancruptcy. This Chapter 7 bankruptcy is different from Chapter 13 bankruptcy, where you make payments over 36 (or 60) months.

Some common questions

Q: Will I have to give back any of my possessions if I file bancruptcy?
A: You'll usually keep all of your stuff, including car.

Q: Will I ever get credit again? I want to buy a house someday.
A: Yes, you can rebuild your credit after bankruptcy. Many people buy a home after they file bancruptcy. Of course, the more good credit you get after your case, the better interest rate you'll get on your future house.

Q: Didn't the banruptcy laws change?
A. Yes, there are lots of changes. But bankruptcy is still around, and there's hope that you can get a fresh start.

Q: Do I qualify for bankruptcy?
A: Most anyone can file bankruptcy. The real question is whether you should or not. Only an attorney can answer that for you. Contact us and set up a consultation and find out your options.

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