Is Chapter 7 Bankruptcy Right for Me? Contact Carmel, IN Bankruptcy Attorney Steven J. Halbert

Chapter 7 – also known as “straight” or “liquidation” bankruptcy – requires the debtor to turn over all of their eligible assets to a court-appointed trustee who will sell them to pay back creditors. The debtor is then freed from debt. The process is fairly simple, relatively quick and wipes the slate clean of most debt. If you are struggling with overwhelming debt, bankruptcy attorney Steven J. Halbert can assist you in determining whether Chapter 7 bankruptcy is an option that would work best for you.

While the process is relatively simple, the choices about and consequences of debt reduction measures such as declaring bankruptcy can be complex. With more than 25 years of experience in helping clients to manage debt, Lawyer Halbert can answer your questions and provide options for the relief and fresh start you need, while protecting your rights.

Will I Lose Everything in Chapter 7 Bankruptcy?

Although the perception may be that those who file for Chapter 7 “lose everything,” that is not generally the case. Often, the property owned by those filing for Chapter 7 is not valuable enough to sell and raise money for the creditors, and stays in the hands of the debtor. Here are a few other reasons why Chapter 7 can be a good option:

• Although a Chapter 7 bankruptcy can remain on your record for years, the time from filing to relief from debt typically takes only a few months.

• With freedom from the majority of your debts (exceptions include alimony, child support and student loans) you can start rebuilding your credit as soon as possible after you have filed.

• Filing puts an automatic “stay” into effect, stopping (at least temporarily) most creditors from pursuing you to collect what you owe them.

Contact Carmel Bankruptcy Attorney Steven J. Halbert to Discuss Debt Relief

If you or your loved ones are struggling with an overwhelming debt burden and feel like you have nowhere to turn, please contact Steven J. Halbert law office for a free initial consultation. We serve those in the Carmel and central Indiana area. To make an appointment by phone, please contact us at “765-577-5290.”