For many people, bankruptcy is no longer the last possible option for dealing with debt. Many people view bankruptcy as a proactive way to get a handle on debt and begin living again with a clean slate. Many of the people we help are homeowners with jobs who were simply hit by some difficult financial setback such as a divorce or medical emergency.
At Gasparis & Zembillas Attorneys At Law, we offer Chapter 7 bankruptcy assistance to clients who are trying to be proactive, as well as those who are feeling overwhelmed and simply need someone to show them a way out from under their debt. We can help you find a debt relief solution that meets your needs now and down the road.
What is Chapter 7 Bankruptcy?
Chapter 7 bankruptcy is filed primarily by individuals, married couples (who meet qualification criteria) or small businesses to eliminate debt and achieve a “fresh start”. When a Chapter 7 bankruptcy is filed you are granted an automatic on creditor collection. This means that once a Chapter 7 bankruptcy is filed creditor collections efforts and tactics, including wage garnishment, court hearings, lawsuits, phone calls, letters and other forms of creditor harassment must stop. If a creditor fails to stop collection efforts after being notified of the filing of a Chapter 7 bankruptcy that creditor may be subject to punishment. Once the bankruptcy process is concluded most debts are “discharged,” which means eliminated. Individuals or married couples who receive a discharge in Chapter 7 bankruptcy are no longer legally liable for discharged debts. Creditors whose debts are discharged cannot legally collect on those debts and in fact may not make any effort to collect on a discharged debt. A Chapter 7 bankruptcy discharge erects a barrier to any further collection efforts.
Keep in mind that there are some types of debt that cannot be discharged in bankruptcy including most student loans, most tax debt, alimony, child support, debts arising out of a divorce, court fines such as speeding tickets, debts that were a result of auto accidents involving intoxication, debts that are a result of criminal activity and debts incurred through fraud. Secured debt, such as debt that is tied to a car, home, furniture, appliances or other collateral must be paid if you want to keep the property that is tied to the debt.
Chapter 7 Bankruptcy Lawyers -- 2 Locations in Crown Point & Valparaiso
When you come in for your 1st appointment, you will meet with Harry Zembillas, not a paralegal or another member of our staff. We take the time to walk you through the paperwork required to begin your bankruptcy case, and we make sure that by the end of your appointment, you understand the process you are about to begin.
Since 1993, we have used our experience to help you find any alternatives to bankruptcy and explain ways of managing those debts that cannot be discharged in bankruptcy, like student loan debt. We can also help you contact a credit counseling agency before filing a bankruptcy claim.
Helping You To Effectively Eliminate Your Debt
At Gasparis & Zembillas Attorneys At Law, we help good people through bad times. If you are struggling with financial debt, a Chapter 7 bankruptcy may allow you to:
- Eliminate or significantly reduce your debts
- Stop creditor harassment
- Stop a wage garnishment
- Stop auto repossession
- Stop bank account garnishment
- Re-establish good credit
Debts That Can Be Discharged
With a Chapter 7 bankruptcy, you can discharge many forms of consumer debts. Debts that may be discharged include credit card debts, medical bills, lease breaks, car repossession balances, mortgage foreclosure balances and most other forms of unsecured debt.
Immediate Relief From Chapter 7
Chapter 7 bankruptcy can help you obtain immediate financial relief. From the moment you file, an automatic stay is created that temporarily halts most creditors from further collection activities, including wage garnishments, auto repossessions and harassing collection calls.
Who is Eligible?
To be eligible for Chapter 7 bankruptcy, you must satisfy a financial means test that takes into account your income and ability to pay your debts. Most of the people who contact us are pleased to discover that they are eligible for Chapter 7 relief. If you are not eligible for Chapter 7 bankruptcy relief, you will likely be eligible for Chapter 13.
At Gasparis & Zembillas Attorneys At Law, we are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code. Call us today for an appointment.
How may we help you?