Advantages of Chapter 7 Bankruptcy

Overcoming financial strains can be quite overwhelming. The good news is there are various options available to help you start working on rebuilding your finances, one of which is filing for Chapter 7 bankruptcy. Siddons Law Firm, a reputable chapter 7 bankruptcy attorney in Media PA, has outlined some of the benefits of chapter 7 bankruptcy. Further facts about Media, PA can be found here.

Debt Forgiveness

Successfully filing for a chapter 7 bankruptcy means that all your debts are dropped. The case doesn’t have any obligations that require you to repay any qualifying debts. Through this chapter, you can get rid of personal loans, credit card balances, and other unsecured debt. Information about Benefits of Filing Chapter 11 Bankruptcy in Media, PA can be found here.

Instant Relief from Harassment by Creditors

After filing for a chapter 7 bankruptcy, the judge will order a stay on creditors. This means they won’t contact you again or even repossess your property. Chapter 7 bankruptcy will immediately end their constant harassment.

Exemptions on Home and Personal Property

When you file for a chapter 7 bankruptcy, it doesn’t mean that you’ll sell all your possessions. Some exemptions in law will allow you to keep the things that matter to you most.

This is just the tip of the benefits. There are many more benefits that you’ll enjoy when you hire a qualified chapter 7, bankruptcy attorney in Media, PA.