24 YEARS EXPERIENCE IN CONSUMER BANKRUPTCY
DEBT REORGANIZATION
LICENSED IN KENTUCKY & INDIANA
MEMBER OF AMERICAN BANKRUPTCY INSTITUTE
Chapter 7 Bankruptcy in Kentucky and Indiana
CHAPTER 7--ELIMINATE YOUR DEBTS
Chapter 7 is a straight bankruptcy proceeding in which most unsecured debt is eliminated.
Chapter 7 gives an individual who is overwhelmed with debt an opportunity to start over with a clean slate.
Chapter 7 also allows individuals to terminate burdensome leases and other contracts and to return property to secured creditors without having to continue to pay for it. Where the debtor wishes to keep property which is security for a creditor's debt, payments must be maintained.
Chapter 7 offers several benefits to an individual debtor. It allows an individual the means to discharge or eliminate most debt while protecting future income. It also allows an individual to keep certain exempt property.
Certain types of debt are not dischargeable in Chapter 7 and will survive the bankruptcy. Those debts include, among other, student loans and certain types of taxes.
In order to be eligible for Chapter 7 Bankruptcy, you must meet certain requirements.
Call us to discuss those requirements.
Richard A. Schwartz
6040 Dutchmans Lane
Two Paragon Centre
Suite 220
Louisville, KY 40219
(502)485-9200
(502)485-9220
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