Skip to content

Chapter 7 Bankruptcy

Michael Agruss

Written and Reviewed by Michael Agruss

  • Managing Partner and Personal Injury Lawyer at Mike Agruss Law.
  • Over 20 years of experience in Personal Injury.
  • Over 8000+ consumer rights cases settled.
  • Graduated from the University of Illinois Chicago School of Law: Juris Doctor, 2004.

If you’re struggling with significant debt and considering a new start via bankruptcy, you may be eligible for Chapter 7 bankruptcy. This type of bankruptcy is available to those who pass the “means test,” meaning that your income is lower than your state’s median monthly income; there are also numerous exceptions to this rule.Chapter 7 bankruptcy requires that you sell all your assets and pay creditors with the proceeds in a specific manner. You must disclose all financial information, including your assets, liabilities, income, and expenses, followed by an “automatic stay,” a period in which most debt collection efforts will be halted. If your case is accepted, your assets will be liquidated to pay your creditors and your debts will be discharged, except for non-dischargeable debts such as child support payments, tax debts, and student loan debt.If you’re considering Chapter 7 bankruptcy to get on a path to financial recovery, contact Mike Agruss Law, to learn about your rights and options.

Submitted Comments

Saber mas
6 years ago
Buenos días! .Me gustaría dar un enorme aprobado por amena información que tenemos aquí en esta web . Voy a volver muy pronto a disfrutar con esta web.
Glenn
6 years ago
you're in point of fact a good webmaster. The site loading pace is incredible. It sort of feels that you're doing any distinctive trick. Moreover, The contents are masterwork. you have done a fantastic activity on this matter! maglia liverpool
Cruz
6 years ago
I really like the styles Cheap Brandon Coleman Youth Jersey
Tammara
6 years ago
I really like the styles Cheap Xavier Rush Youth Jersey
Melinda
6 years ago
Hello, I am inquiring about bankruptcy, I'd like to speak to someone to learn more about the process and possible representation. Thank you, Melinda

We are listening

We will respond to you at lightning speed. All of your information will be kept confidential.

Form successfully submitted!