If you’re overwhelmed by debt, Chapter 7 bankruptcy may provide the solution you need to get a fresh financial start. Chapter 7 bankruptcy is a fantastic option for those looking to relieve the heavy burden of debt. It’s a smart way to get you back on the right financial path, making sound monetary decisions for the future. For smart Chapter 7 bankruptcy services in Dallas, Texas, reach out to my firm, Peter A. Ryan Attorney at Law, today.
Chapter 7 bankruptcy discharges, or “forgives,” your unsecured debt. As the most common type of bankruptcy among individuals, Chapter 7 takes an average of four to six months to complete. The American Bankruptcy Institute reported that of the nearly 775,000 bankruptcies filed in 2019, 63% were Chapter 7, and 94.3% of those had their debts discharged.
Chapter 7 bankruptcy is a great resource for individuals, families, and businesses alike. You may benefit from its services if:
You’ve depleted your savings
You have little or no disposable income
You’re using loans to pay your bills
You’ve fallen behind on your mortgage or rent
Creditors are calling about late or missing payments
Your debts are more than one-half of your annual income
Paying off your debt would take more than five years, even with extreme measures
The financial stress is taking a toll on your health, relationships, and ability to sleep
Those who qualify are able to use Chapter 7 bankruptcy to eliminate their medical bills, credit cards, garnishments, judgments, and more, and get back to enjoying their families and lives in general.
If you're considering filing a bankruptcy case, you will need to take a Credit Counseling course such as this one.
If you have already filed, you will need to take a Financial Management course before you can receive your discharge, such as this one.
At Peter A. Ryan Attorney at Law, I help clients make tough decisions and use Chapter 7 bankruptcy as a tool for a better financial future. I proudly serve members of the Dallas, Texas, community, including McKinney and the rest of Collin County. I'm also able to help individuals in Denham Springs and Livingston, Louisiana. For a skilled consumer bankruptcy attorney, contact my office today to schedule a free consultation.