Northampton Chapter 7 Bankruptcy Attorneys

File for Straight Bankruptcy - Hampshire, Franklin, Hampden and Berkshire Counties

Chapter 7 bankruptcy is sometimes called "straight bankruptcy" or "liquidation bankruptcy." Chapter 7 bankruptcy is a traditional form of bankruptcy that erases all eligible debt, which means the debtor is legally excused from having to pay.

Before you can file Chapter 7 bankruptcy, you must first past a "means test" that compares your income to the median income for the state. If you do not pass that version of the qualification test, we can do a longer analysis of your assets and debts to see if you qualify for Chapter 7 bankruptcy. Learn more about Chapter 7 bankruptcy from the Northampton bankruptcy lawyers at Ostrander Law Office. Contact us today for a free in-person consultation.

Ostrander Law Office serves clients throughout central and western Massachusetts, including Hampshire, Franking, Hampden, Berkshire and Worcester.

Basic Information About Chapter 7 Bankruptcy

Chapter 7 bankruptcy does not require you to sell all your assets to repay as much debt as possible. Under the bankruptcy laws regarding exempt property, most of your property is protected. If you have assets that are unprotected, the bankruptcy court may order repayment of debt via liquidation of those unprotected assets. However, most of the time a settlement is reached with the bankruptcy trustee that will allow you to keep the asset.

As soon as you file your Chapter 7 bankruptcy petition, you will receive protection from creditor harassment via a legal tool known as the "automatic stay, " which forbids your creditors from contacting you.

The Chapter 7 bankruptcy process usually takes less than six months from start to finish and typically will not require any court appearances. Learn more about the Chapter 7 time frame.

Filing Chapter 7 bankruptcy will affect your credit rating, but less than you may think. Some Chapter 7 filers get credit offers before the bankruptcy discharge is complete. At Ostrander Law Office, we encourage our clients to be careful about borrowing off credit after a bankruptcy. After filing bankruptcy, you become ineligible to file again for several years.

Contact Ostrander Law Office in Northampton

Learn the facts about Chapter 7 bankruptcy. Remember, every person's situation is different. You deserve to learn specific information about how Chapter 7 bankruptcy may be able to help you out of financial crisis. Contact our Hampshire County bankruptcy attorneys for a free consultation.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.