Detroit Chapter 7 Bankruptcy Attorney

Bankruptcy Facts and Information

Chapter 7 is the most common form of bankruptcy, and is sometimes referred to as "straight bankruptcy." Its basic purpose is to provide an individual with a financial clean slate by eliminating all of their qualifying debts, including those for credit cards, unsecured loans, repossession deficiencies, lawsuits, and medical bills. In a Chapter 7 filing, there is no repayment for most unsecured debts. The debts are eliminated permanently. The process generally takes less than four months to complete, and once it is over, the individual may choose to pay back debts that were not covered under the bankruptcy, such as those to family members. This is not required, however.

The Cartwright Law Firm is a bankruptcy law firm that serves financially struggling individuals in Detroit, Southfield, and Pontiac. In over a decade of practicing bankruptcy law, we have helped a large number of clients complete their bankruptcies, allowing them a fresh start completely debt free. If you are no longer able to cope with your mounting debt, contact a Detroit bankruptcy attorney at our offices. We will provide you with a level of personal attention in your case that will significantly increase your chances of a successful Chapter 7 filing.

Bankruptcy Facts and Information

There are certain requirements that must be met before a person will qualify for Chapter 7 protection. The individual may not have filed for Chapter 7 within the last eight years. They may not make a considerable income unless they have a high level of expenses. They may also not have major assets with a substantial amount of equity, or a new car that has been paid in full. Lastly, they are required to pass a " means test" that compares their income to that of the state's median income level.

Contact a Detroit Chapter 7 bankruptcy lawyer who can determine if Chapter 7 is the right bankruptcy type for you.