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Moreno & Villarrubia LLP is here to help you navigate back to a place of financial freedom. Our qualified attorneys and support staff are dedicated to working for you. We are here to help you assess your financial situation and provide solutions to your financial challenges so you can achieve success!
Home » Bankruptcy » Chapter 7

What Is Chapter 7 Bankruptcy?

Chapter 7 bankruptcy liquidates/gets rid of your dischargeable debt. Despite the myths, filing for bankruptcy is often a means for individuals to become more financially secure.

If you are thinking about filing bankruptcy, you may fall under the following categories:

  1. Average to low income
  2. A considerable amount of debt
  3. No extensive property

If the above apply to your financial situation, you may qualify for Chapter 7. Eligible income thresholds vary based on median income data established by the Census Bureau. The rules set within the guidelines are fluid. Even if your income is above the median, you may still qualify to file for Chapter 7. That is why it’s important to let our attorneys review your circumstances and tell you the truth regarding your next chance at financial freedom.

Perks Of Filing Chapter 7 Bankruptcy

By reading this page, you are one step closer to financial freedom. It’s important to note that the protection offered varies from state to state.

Perks of filing Chapter 7 bankruptcy in Indiana include protection of a car, home and other assets up to a predetermined amount as well as elimination of debt up to $100,000 or more. Filing for Chapter 7 bankruptcy protection can give you the proverbial financial “fresh start.”

When Would I Need To File A Chapter 7 Bankruptcy?

Here are a number of scenarios where bankruptcy can help:

  • Old, prior evictions prevent you from renting a new home or apartment.
  • You are only able to make minimum payments on your credit cards/loans.
  • Your expenses exceed your income.
  • You are being garnished or sued for past debts.
  • Your credit score is low due to collections, repossessions, lawsuits or other financially damaging items on your credit report.
  • You have extensive payday loans/overdraft fees and cannot gain control.

How Can Chapter 7 Help Me?

First, filing bankruptcy under Chapter 7 will immediately stop creditor harassment and wage garnishment.

It can save you thousands of dollars or more by eliminating large amounts of personal debt, including hospital bills, credit card debt and other types of consumer debt. Once this debt is discharged, it becomes easier to rent apartments and homes if you have had issues with evictions in your past.

It provides debt relief in a matter of months. Then you can rebuild your credit/credit score to purchase a car or EVEN a home after filing Chapter 7 bankruptcy.

Why Should You Contact Moreno & Villarrubia LLP?

Gain financial control and live your best life without the stress of harassment and debt looming over you. Our bankruptcy lawyers are experienced and will take the time to listen. Our bankruptcy practice team focuses on personal, friendly and efficient service.

Our services are tailored to your needs ensuring fees are affordable. We even offer payment plans. We offer appointments that meet your schedule even if outside Monday to Friday business hours.

Your first step to financial freedom is to email or call our Indianapolis offices at 317-822-9900. We provide free initial consultations.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

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