What Is Chapter 7 Bankruptcy & Should I File?

If you're considering filing for bankruptcy, you're probably wondering what Chapter 7 bankruptcy is and whether or not it's the right choice for you. Here's what you need to know about Chapter 7 bankruptcy and how to decide if it's the right option for your financial situation.

Chapter 7 bankruptcy is also known as liquidation bankruptcy. This type of bankruptcy allows you to discharge most of your debts, including credit card debt, medical bills, personal loans, and business debts. In exchange for this debt relief, you must give up some of your assets, such as your car or your home.

Before you can file for Chapter 7 bankruptcy, you must pass a "means test." This test determines whether or not your income is low enough to qualify for this type of bankruptcy.

The Law Offices of Omar Zambrano has helped thousands of people and businesses in the past to get out of debt and start over.

Our goal is to help you find a fresh start so FAST!

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