Serving Clients throughout Washington, D.C., Prince George’s County & Beyond
Financial problems can build up quickly and without warning. Losing your job, being involved in a car accident, going through a divorce—all of these things can lead to serious financial hardship that can be nearly impossible to get yourself out of.
Luckily, you have options. Chapter 7 bankruptcy is one such debt relief option. While this solution won’t work for everyone, filing for Chapter 7 bankruptcy might be beneficial if you cannot make payments on your debts and you meet certain other eligibility requirements. If you are ineligible for Chapter 7, you may still be able to file for Chapter 13 bankruptcy or seek alternative debt relief options, such as debt settlement.
Is Chapter 7 Bankruptcy Right for You?
The purpose of Chapter 7 bankruptcy is to discharge as much of your unsecured debt as possible, hopefully leaving you with no debt at all. How much can be discharged varies from case to case, and it might be difficult to initially know how much will be left when your Chapter 7 bankruptcy filing ends.
Unsecured debt often comes in the forms of:
- Medical bills
- Credit card obligations
- Unsecured loans
- Some court judgements
- Back rent in some states
When using Chapter 7 bankruptcy, some of your assets might be collected by banks or creditors as your debt is discharged. For this reason, Chapter 7 bankruptcy is often only recommended if you do not have many assets to lose and your debt is so high, you simply cannot foresee a way to repay it.
How Our Firm Can Help
Capital Justice Attorneys, LLP can assist you with all aspects of filing for Chapter 7 bankruptcy, including but not limited to:
- Determining your eligibility for Chapter 7 bankruptcy
- Assisting you in taking the means test for the District of Columbia
- Helping you find credit counseling (you must attend two courses)
- Collecting all applicable documents and filing them with the appropriate courts
- Completing and filing bankruptcy forms and paying applicable fees
- Assist you in locating a mandatory 341 meeting
- Providing necessary documents to your bankruptcy trustee
When done correctly, Chapter 7 bankruptcy can allow you to discharge your debts, retain most if not all of your property and assets, and get a fresh financial start. It’s important to weigh the negatives of this option, however, as filing for bankruptcy will affect your credit, though not always as harshly or for as long as most people believe.
Your best bet is to speak with a knowledgeable attorney at our firm who can help you make the right choice to protect your best interests. Our team provides compassionate and personalized legal representation for each and every client, as well as payment plans and flat-rate attorney fees for Chapter 7 bankruptcy cases.