Is Chapter 7 Bankruptcy Right for You?
Each bankruptcy case is unique, and it is hard to know which bankruptcy
plan is best for you without a specific case evaluation. However, there
are certain common advantages and disadvantages in a Chapter 7 bankruptcy.
Some benefits to a chapter 7 bankruptcy include:
- Gives you a “fresh start” discharge of certain debts
- Immediate halt of creditors’ collection efforts on date of filing
- No minimum debt requirement
- A quick process lasting between three to six months
A Preview of the Process
After you have completed the first step of calling us at
McCullough Eisenberg and scheduling your free case evaluation, we can then continue the process
of helping you file for bankruptcy. As your representation, we start by
getting a better understanding of which bankruptcy plan is best for you
and your case.
We collect and examine your financial information, such as:
- Your tax returns
- Credit reports
- Paycheck stubs
- Bank statements
- Other financial statements
We can then use this information to file a petition with the court so that
the court can set a date for your 341 hearing (also known as the Meeting
of the Creditors). At this hearing, your court-appointed bankruptcy trustee
may question you about the information provided and discuss issues relating
to the bankruptcy, such as confirmation of your debt discharges.
Once an agreement is established in this hearing, your bankruptcy trustee
may liquidate your non-exempted assets to pay back your creditors (at
this point, your creditors' collection efforts stop). During this
time, your Warminster chapter 7 bankruptcy attorney may write Cease and
Desist letters, enforced by the courts, to your creditors who are not
What Can a Chapter 7 Bankruptcy Lawyer Do for You?
At McCullough Eisenberg, we understand that going through bankruptcy can
be a frustrating and even frightening time. Just as you would not want
to go into a lawsuit without an aggressive attorney to represent you,
you do not want to go into bankruptcy court without a compassionate, caring,
and attentive lawyer to guide you through the process.
After over 50 years of practice in helping people in Warminster, Pennsylvania
in similar situations such as yours, McCullough Eisenberg has the knowledge
and expertise necessary to walk you through this process.
Call today at (215) 392-6696 for a
free case evaluation to see what your Warminster Chapter 7 bankruptcy attorney can do for you!
To find out how Chapter 7 bankruptcy can help you, call our chapter 7 bankruptcy
lawyer in Warminster at (215) 392-6696!