This Bankruptcy Does Not Mean that You Lose Everything! You just lose the bad debt!!
This is the lawful means to get rid of your debt and get a fresh start in life.
In this case, you’re not trying to reorganize your debt like in Chapter 11. In this case, you’re saying “I give up.” My debt is just too much to bear and I am at the end of my rope. If I could just get rid of that huge hospital bill or those horrific credit card balances I would be able to live life again and be happy! These are the emotions and feelings of someone who files Chapter 7. And it is perfectly alright to feel this way!!
When I file Chapter 7 for you, any creditors who are calling you constantly or who are actually taking assets from you must stop immediately. This is called the “stay of bankruptcy” and these creditors can’t go any further, at least for now.
The good news is that, if you are current on your home mortgage, you will be able to keep your home! If you are current on your automobile, you will be able to keep your automobile!! The fact that you file Chapter 7 doesn’t mean that you lose the important things in your life such as your home and automobile. In fact, there is a list of what are called “exemptions” which allow you to keep certain property through the bankruptcy even though you are getting rid of all that bad, unpayable debt. Did you know also, for example, that you can keep your IRA or retirement account also in most instances in your Chapter 7?? This is exciting stuff…You can come through this intact which many of your important assets, but no longer have to carry the impossible, excessive debt which is giving you bad dreams each night…
Here’s an example of a recent Chapter 7 success for one of my clients: I received a call from a gentleman who told me that he had suffered a heart attack last year and was taken to the hospital on an emergency basis for heart surgery. The surgery was successful and he lived…the problem was that he received a bill shortly thereafter for $75,000.! He was working for a company that didn’t provide any health insurance and he hadn’t maintained his own health insurance. As a result, he was stuck with this bill and was receiving constant calls for collection of this money. With the money he was making from his salary, he couldn’t afford to make any monthly payments. I filed Chapter 7 Bankruptcy on his behalf and we got rid of that hospital bill, lock stock and barrel!
He no longer owed the money. Now, he feels so much better about himself and his life. Sometimes Chapter 7 can be that helpful and necessary to someone in his or her life.
Finally, please note that this client, a very nice man, who couldn’t pay this huge hospital bill was able to reach me directly on my cell phone at 714-319-3446. He didn’t have to go through my secretary or through my office to find me. When he called me, he found me immediately and we could get this process started for him quickly.
Call me directly at my cell phone and I’ll be happy to provide you with a free 1/2 hour consultation. I’ll tell you immediately what I can do for you. Thank You.