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Navigating the process of Chapter 7 bankruptcy

The burden of debt is a heavy one. If left unchecked, forms of debt such as credit card debt, medical bills and personal loans can quickly compound and pile up, creating a financial situation that can be extremely stressful. Unfortunately, these debts can reach a breaking point where eliminating them in a traditional manner becomes unlikely. In such situations, filing for Chapter 7 bankruptcy can sometimes be the answer.

Chapter 7 bankruptcy is often thought of as liquidation bankruptcy. As such, holdings and possessions are often liquidated in order to pay off existing debt. While the debt relief can be very helpful in taking control of one's financial stability, losing a large amount of possessions can be a difficult prospect to face. However, our attorneys strive to protect possessions in the event of Chapter 7 bankruptcy. Items such as automobiles, homes and more can be taken into consideration in these events, and we will work diligently to protect as much as possible.

Another stressful element of debt can be the sometimes-harassing phone calls and letters from collection agencies. When someone files Chapter 7 bankruptcy, collection actions, including phone calls, letters and more, must stop. This can provide room to breathe while going through bankruptcy and can help build focus to complete the necessary steps of the process.

Extreme debt can seem like an inescapable burden. However, there are methods of eliminating such debts that can help get one back on their feet financially. While these steps can be stressful and confusing, seeking the assistance of attorneys experience in Chapter 7 bankruptcy can help bring comfort and focus to the situation. For more information, please visit our website.

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