Types of Debt You Can Eliminate
Eliminate Your Debts Through Chapter 7 Bankruptcy
Filing for bankruptcy allows an individual to get back in control of their finances. Chapter 7 is the discharge bankruptcy that eliminates debt entirely. When a debt is discharged, you no longer have a legal obligation to pay it. There are several types of debts that can be eliminated through a
Chapter 7 bankruptcy such as:
- Some taxes
- Credit card debt
- Medical bills
- Utility bills
- Personal loans
- Other unsecured debt
Unsecured debt is any debt that has not been secured by assets. Debts that won't be covered in a Chapter 7 include child support, spousal support, student loans, property taxes, some income taxes, court fines and restitution resulting for negligent or careless acts.
If you are considering bankruptcy, contact Ventura bankruptcy attorney Michael Grennier at Grennier Law for information regarding the bankruptcy process. Very specific procedures must be followed when filing for bankruptcy that attorney Michael Grennier can explain. You can also find out about
bankruptcy alternatives such as debt consolidation, debt negotiation and loan modification.
Other Ways to Eliminate Your Debts
There are many ways to eliminate debts. If you are in serious financial trouble, filing for bankruptcy might be your best option. When a person is behind in their bills, they are often at risk for law suits, repossession, wage garnishment, bank levies and
foreclosure. Once a bankruptcy petition is filed, any actions your creditors have been engaged in to recover the money that is owed will be stopped. This includes harassing calls and letters, lawsuits and other legal measures.
We are Ventura County's leading bankruptcy law firm. We have assisted thousands of clients with money problems, and can skillfully guide you through the bankruptcy process.
Contact Ventura bankruptcy lawyer, Michael Grennier, for qualified legal advice regarding filing for bankruptcy. Call to schedule a FREE Consultation at (888) 504-1797.