Chapter 7 Bankruptcy Benefits
When the debts begin to pile up and the money in the bank begins to dwindle, this can cause great stress. For individuals unable to pay off all their debts, declaring bankruptcy is always an option, and despite the negative connotation of the term “bankrupt,” this declaration can allow you a bit more flexibility in paying off your debts. To learn about Chapter 7 bankruptcy benefits and how they can help you to restore your financial stability while preserving most of your assets, be sure to watch bankruptcy attorney Randy Gugino’s video below.
A Chapter 7 bankruptcy is a full bankruptcy, in which filers are able to discharge debts in their entirety. Typically, a Chapter 7 bankruptcy will eliminate unsecure creditors and allow filers to reaffirm and continue to pay secure creditors such as mortgages and car loans. Benefits of a Chapter 7 bankruptcy are substantial to the debtor. Filers are able to eliminate unsecure debt, take care of garnishments, do away with harassment from daily phone calls, and protect most or all of their assets. Even though it is a full bankruptcy, a Chapter 7 bankruptcy does not necessarily mean that the filer will lose everything. Many assets are exempt under this bankruptcy code.
If you or a loved one is considering bankruptcy, contact The Law Office of Randy H. Gugino for a confidential consultation to learn about the Chapter 7 Bankruptcy Benefits and how bankruptcy can help you on your road to financial recovery.
The Law Office of Randy H. Gugino has provided comprehensive legal services to clients in the Buffalo region and throughout Western New York for more than 30 years. Our clients receive the support of an award-winning legal professional who truly cares about their case — and a staff of highly trained paralegals and assistants dedicated to detail and committed to achieving results. Let our experience work for you!
You can also watch our educational videos and download our free mobile apps to learn more about your legal issue.
