How Can Filing Chapter 7 Bankruptcy Help Me?


Deciding to file bankruptcy is most likely one of the most difficult decisions you will have to make. It is important to determine how filing Chapter 7 bankruptcy will help you. Our experts at discuss below the advantages of filing a Chapter 7 bankruptcy.

  • Chapter 7 bankruptcy is the preferred consumer bankruptcy eliminating most unsecured debt. Furthermore, it is the most simple, quick and common consumer bankruptcy options.
  • Filing Chapter 7 bankruptcy will give you the opportunity to eliminate most unsecured debt such as medical bills, credit cards, utility bills and even certain taxes. Once such debt is discharged, you are no longer obligated to pay it back.
  • When you file for either a Chapter 7 or a Chapter 13 bankruptcy, the Automatic Stay goes into effect. This means that creditors are strictly prohibited from engaging in any debt collection activities including lawsuits, wage garnishments, credit and debt collector calls and mail. For Chapter 13 filers, it may even prevent foreclosure and repossessions.
  • The legal fees with filing a Chapter 7 are generally less expensive than other bankruptcy chapters. Most attorneys charge a flat fee and have payment plans available, however there are some bankruptcy attorneys who may prefer to be compensated at an hourly rate.
  • Upon receiving a Chapter 7 bankruptcy, you can start rebuilding your credit score immediately. There are two ways in which that can be achieved: either by obtaining more credit or by remaining credit free.
  • Contrary to popular belief, filing a Chapter 7 bankruptcy does not mean that you will lose everything that you own. A provision in bankruptcy law referred to as exemptions safeguard certain assets. In the vast majority of cases, Chapter 7 bankruptcy filers have no assets to administer.
  • Filing Chapter 7 bankruptcy does not have any restrictions in terms of the amount of debt you owe.

Our experienced bankruptcy attorneys at have helped many individuals from coast to coast with their bankruptcy cases. Schedule your free initial consultation today by visiting