Chapter 7 Features:

  1. Exemptions protect many assets from the reach of creditors.

  2. Most types of unsecured debt can be discharged.

  3. Ability to reaffirm mortgage debts and car loans.

  4. Automatic stay prevents most adverse creditor actions.


A Pittsburgh Chapter 7 Bankruptcy Lawyer can help answer your questions regarding a bankruptcy liquidation.  Whether you’re an individual or a business debtor, the concept is basically the same.  You must report your assets, liabilities and financial affairs and your creditors are paid pursuant to the priority scheme set forth in the Bankruptcy Code from property of the debtor’s estate.


Consumer debtors are entitled to bankruptcy exemptions which vary from state to state.  To further complicate matters, an individual debtor may be permitted to file in one jurisdiction but be required to follow the exemption rules of another state, depending on where that debtor has lived in the period preceding the filing of the bankruptcy case.


Before filing under any chapter, both businesses and individuals should consult with a qualified Pittsburgh Chapter 7 Bankruptcy attorney.

 

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We are a Debt Relief Agency.  We Help People File for Relief under the United States Bankruptcy Code.

Pittsburgh Bankruptcy Lawyer

 
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