Discover Debt Solutions with Chapter 7 Bankruptcy

Chapter 7 is the most recognized form of bankruptcy, and is the fastest and most straightforward type of bankruptcy. Chapter 7 bankruptcy is known as a liquidation. However, in over 90% of all Chapter 7 bankruptcies, no assets are liquidated. This is because an individual is allowed to exempt (protect) many of the assets owned by ordinary individuals. The term liquidation is used since non-exempt (unprotected) assets are liquidated to partially pay creditors. Chapter 7 discharges (eliminates) most types of debt. Among the types of debt Chapter 7 cannot discharge are: debts incurred due to fraud or embezzlement, domestic support obligations (child support, maintenance, etc.), most student loans, and most governmental fines and restitution orders. If you think chapter 7 bankruptcy may be the answer for you, then let Parnell & Associates PC use their 25 years of bankruptcy experience to help you file.

Times to consider chapter 7

• Unable to meet your bills as they come due
• You have been sued, levied or garnished
• Debts exceed assets
• Payday loans prevent you from moving forward
  

Chapter 7 wipes out

 • Credit card debts

 • Medical bills

 • Personal loans

 • Taxes, in some circumstances

Most clients of Parnell & Associates PC are referred by attorneys, other professionals or prior clients.