Chapter Seven Bankruptcy Law

Chapter Seven Bankruptcy

Chapter Seven Bankruptcy Law:

Chapter Seven bankruptcy, also known as personal bankruptcy, is designed to assist individuals or small businesses liquidate assets and repay creditors to resolve financial disputes. Under the new Chapter Seven bankruptcy laws, you must determine if you qualify for Chapter Seven. You have to measure your "current monthly income" against the median income for a household of your size in your state. If your income is less than or equal to the median, you can file for Chapter Seven. If it is more than the median, then you must file for Chapter 13 bankruptcy.

Filing Chapter Seven Bankruptcy Legal Issues:

Individuals with higher incomes will not be allowed to file under Chapter Seven bankruptcy. These individuals will instead have to repay their debt under chapter 13 Bankruptcy. All debtors will have to get credit counseling before they can file for bankruptcy and counseling on budgeting and debt management before their debts can be canceled. Moreover, the law also imposes new requirements on lawyers; making it harder for bankruptcy lawyers to represent bankruptcy cases.

What a Chapter Seven Bankruptcy Lawyer can do for you:

A Chapter Seven bankruptcy lawyers can help you apply for the immediate debt protection you need and help you find the best path to a financially stable future. A Chapter Seven bankruptcy lawyer can help you in selecting the right bankruptcy path and help determine what you quality for. A Chapter Seven bankruptcy lawyer can make a major difference when filing for personal bankruptcy.

Lawyer Referral Service:

If you are experiencing a Chapter Seven bankruptcy issue, Attorney Search Network can refer you to a pre-qualified bankruptcy lawyer. We will assist you in finding you the right Chapter Seven bankruptcy lawyer for your legal needs.

Attorney Search Network can provide you with an attorney referral you to a pre-screened Chapter 11 bankruptcy lawyer in your area today.