Chapter 7 or liquidation bankruptcy is the most straightforward form of filing bankruptcy. It is what most people think of when they think of debt relief. As a New York bankruptcy lawyer, I have helped many of my clients through their bankruptcy.
By filing Chapter 7, it generally means you will be keeping all exempt property and getting your debts discharged. There is no repayment plan involved in this bankruptcy option. A Chapter 7 case is usually closed about 90 days after filing, however, your involvement is usually over just 30 days after filing. Chapter 7 is a straightforward and simple way to regain control of your life and deal with serious debt at the same time.
To be able to qualify for Chapter 7 bankruptcy, you will have to pass the means test. This test was established by the United States Congress to ensure that only those truly unable to pay their debts can successfully apply for Chapter 7 protection. My team at the Law Office of Christopher Graham can help you understand your options.
Filing Chapter 7 means erasing your debt quickly and efficiently. When the case is handled by a seasoned New York bankruptcy attorney, a consumer will usually never have to see the inside of a courtroom or stand before a judge. The right lawyer can ensure that the process remains streamlined and that you’re prepared for a debt-free future once your filing has been completed.
Contact the Law Office of Christopher Graham today at (646) 216-8240 to schedule your free consultation—I have 20+ years of bankruptcy experience.