Understanding Chapter 7 Bankruptcy.

Recent statistics suggest that 47% of all Americans are suffering from some degree of stress related to debt. The problem is huge and affects tens of millions of people in this country. For many the pressure, the stress, and the anguish become unbearable. The only hope is relief from the debt.

The first thing to remember is that millions of Americans, from all walks of life, have found it necessary, and continue to find it necessary, to file for debt relief and protection under chapter 7. These people are not irresponsible or careless. They are regular people who have run into trouble and hard times. There is no stigma involved.

Our attorneys have helped literally thousands of clients who were in desperate need of relief from crushing and unmanageable debt. As we like to point out, we have never encountered any person who was not truly in need and desperate for relief from unending collections calls and contact from creditors.

Please remember that the following is designed only as a snap-shot of the process, please do not rely on it or consider it complete. You will need to speak with one of our attorneys or trained staff to get a full description of everything involved.

  • There are a number of things to consider if you are thinking about debt relief through filing a Chapter 7 bankruptcy:

  • You will be required to make a list of your assets and liabilities. You will also records regarding any and all of creditors and any claims they may have against you.
  • You must keep a comprehensive record of your liabilities and income, including monthly expenses and also the source and frequency of any income.
  • A list of contracts and any leases to which you are a party.
  • Make sure you have your financial statements at hand is also equally important. This should include your annual income for the past 3 years, any foreclosures, any repossessions, and also any debts that are still pending.
  • The bankruptcy Court will also need a copy of your recent tax returns.

Please do not delay. By now you are aware that your creditors are relentless in their pursuit of what they say you owe. The calls and collections efforts will not stop unless you take action to make them stop.

Please call The Slattery Law Firm immediately to begin the process of freeing yourself from the tyranny of debt.