Bankruptcy > Chapter 7 Bankruptcy
Pennsylvania Chapter 7 Bankruptcy Attorneys Determined to Give You a Financial Fresh Start
Experienced Chapter 7 Bankruptcy attorneys to manage and eliminate debt
When you’re overwhelmed with debt, it can be difficult to know where to turn or whether or not you qualify for Bankruptcy. And with more changes to this area of law than ever before, it’s vital that you have experienced professionals giving you the guidance you need.
At Adelstein & Kaliner, LLC, we offer over 75 years of expertise to help evaluate your unique situation and determine whether you qualify for Chapter 7 Bankruptcy. If you do qualify, we will also evaluate if this is the proper solution for your needs.
Understanding Chapter 7 Bankruptcy
Also known as liquidation, Chapter 7 Bankruptcy allows individuals to clear most of their debts and enjoy a fresh financial start.
The best part about this option is that qualified individuals also get to retain “exempt” property. However, non-exempt property will be liquidated and proceeds will be given to creditors. In the vast majority of cases, all assets are exempt. This means that there are no available assets to satisfy creditors’ claims, turning a case into a “no-asset” case.
During your Chapter 7 Bankruptcy proceedings, you’ll enjoy relief from creditors due to the Automatic Stay associated with your case. This means that creditors cannot harass you or attempt to collect on debts via a lawsuit. Then, upon being discharged, the dischargeable debts will be wiped away, as will any creditors’ claims for money you previously owed.
Chapter 7 Bankruptcy eligibility
Because Chapter 7 Bankruptcy offers individuals the fresh start they desperately seek, it’s important to remember that qualifying can be difficult. In fact, you must pass a “means test” to qualify, meaning that your income does not exceed the set threshold.
There are, however other options you can consider to experience the financial relief that you need, including Chapter 13 debt relief services.
Contact Adelstein & Kaliner, LLC to determine your eligibility and receive the support you need
At Adelstein & Kaliner, LLC, we offer over 75 years of combined Bankruptcy expertise and a compassionate approach that guarantees you receive the most appropriate course of action for your needs.
If you’re ready to regain control of both your finances and your life, contact our team at (215) 230-4250 for a free phone consultation or to schedule your free, no-obligation in-office consultation with one of the attorneys. Of course, you may also contact us online for a prompt response to your needs.
We look forward to hearing from you to offer the relief and support you deserve to enable you to take control over your financial future.
