Montgomery County Chapter 7 Bankruptcy Lawyer

Chapter 7 bankruptcy is sometimes called “straight” bankruptcy because it is the quickest and simplest type of consumer bankruptcy, which makes it an appealing option for many filers. However, depending on your financial circumstances and the goals you are trying to achieve, it may be appropriate or necessary for you to file a Chapter 13 bankruptcy, which works differently and serves a different purpose than Chapter 7.

When you contact Sadek Bankruptcy Law Offices for your free legal consultation, we can discuss your situation in detail to determine whether Chapter 7 bankruptcy is the right legal option for you.

Most Chapter 7 cases resolve in as little as four to six months. A court-appointed official called a “trustee” is authorized to sell some of the filer’s property, excluding property that is protected by bankruptcy exemptions, in order to repay his or her creditors. Pennsylvania residents have the option of selecting between the state exemptions and federal exemptions.

Our bankruptcy lawyers in Montgomery County will review your circumstances thoroughly to make a determination about which set of exemptions is best able to protect your property and assets.

While the case is ongoing, the filer will be protected by a court order called the “automatic stay,” which generally prevents creditors from trying to collect payments during the bankruptcy proceedings. When the case is discharged by the bankruptcy court, the filer will be relieved of liability for most of his or her debts.

While the bankruptcy will initially have a negative effect on the filer’s credit score, the relief from debt will give the filer greater ability to build good credit going forward.