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Chapter 7 Bankruptcy Can Be Your Second Chance

Filing for bankruptcy is a heavy decision, but one that can help you avoid years of further stress and help you regain control over your finances. Chapter 7 bankruptcy is the most common form of bankruptcy used by individuals.

When creditors are calling you nonstop, and you are tired of struggling to make ends meet, Chapter 7 bankruptcy may be a good option. Chapter 7 is a way to start over. Faster than other types of bankruptcy, it only takes approximately 90 days after filing for the discharge of your debts.

Helping You Find Financial Freedom

Chapter 7 bankruptcy requires the passing of the “means test” to qualify. The test compares your monthly income to the median income to prove that you do not have the income to repay your debts. It works by deducting specific expenses from your overall monthly income to calculate your disposable income. Generally, the higher your disposable income, the more likely you will not be eligible for Chapter 7 because it shows that you have the money to pay off your creditors.

Chapter 7 bankruptcy can discharge different kinds of debts, including:

  • Credit card debt
  • Utility bills
  • Medical bills
  • Repossessed vehicles
  • Personal loans
  • Payday loans
  • Past due rent

Chapter 7 bankruptcy will not discharge tax liability debts, most student loans, child and spousal support, government fines, or other debts. Filing for bankruptcy, including Chapter 7, also will cause a massive hit to your credit score that can last seven to 10 years. Every client has a different financial situation. At the O'Neill Law Firm, we can examine your finances and debts and help you determine if Chapter 7 bankruptcy is right for you. We can answer any questions you may have and walk you through the process, so you are confident in your decision.

You Deserve A Fresh Start

We can help you wipe the slate clean. Contact O'Neill Law Firm in La Crosse today to schedule a free consultation to learn more about how we can help you with Chapter 7 bankruptcy. No one deserves to live under the heavy weight of debt and financial instability. We can help you get back on your feet. Call us at 608-519-4816 or contact us online.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.