Call for a free bankruptcy consultation

Louisville |


New Albany |

Schwartz Bankruptcy Law Center

Is Chapter 7 bankruptcy the right choice for me?

Many people have reservations before deciding to file for bankruptcy. It's common to feel as though filing for bankruptcy counts as an admission of failure, but this is only an illusion. Taking action to file for bankruptcy can be the opposite of this. It is the act of taking action to claim responsibility for your future.

There are many different types of bankruptcy Chapters, each with their advantages and disadvantages. If you are considering filing for Chapter 7 bankruptcy, it is important that you take the time to assess whether it is the right choice for you.

Can you realistically repay your debts using your income?

Those who have a significant or a stable income may not qualify for Chapter 7 bankruptcy. This is because Chapter 7 bankruptcy is exclusively designed for those who cannot realistically pay off their debts without liquidating assets.

Do you want a financial fresh start?

If you file for Chapter 7 bankruptcy, you will need to come to terms with the fact that you may need to liquidate a significant amount of your assets, if you have any. While this is not ideal, it does essentially mean that you can wipe the slate clean and gain a fresh financial start.

Would you like bankruptcy to be finalized quickly?

Chapter 7 bankruptcy is usually finalized within 6 months, which is a huge advantage for many prospective bankruptcy filers.

If you are unsure whether filing for Chapter 7 bankruptcy is the best option for you and your family, it is a good idea to research all of your possible debt relief options.

No Comments

Leave a comment
Comment Information
Make A Payment Email Us For a Response

Need A Solution To Your Debt Problems?

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Make A Payment
Schwartz Bankruptcy Law Center

Office Locations:

Louisville Office
3339 Taylorsville Road
Louisville, KY 40205

Phone: 502-785-8549
Phone: 502-485-9200
Fax: 502-485-9220
Louisville Law Office Map

New Albany Office
501 State Street
New Albany, Indiana 47150

Phone: 502-785-8549
Phone: 812-945-9200
Fax: 502-485-9220
Map & Directions