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Nonjudgmental Guidance For Chapter 7 Bankruptcy

There is no shame in filing bankruptcy. Bankruptcy offers a second chance to people who have encountered insurmountable debt. Nevertheless, a bankruptcy still needlessly carries a negative stigma.

At Paulsen & Reissner, PLLC, our attorneys do not judge anyone who is considering filing bankruptcy. On the contrary, we are proud to work with clients to discharge their debts through Chapter 7 bankruptcy. With our guidance and knowledge, you can wipe your slate clean and start over again.

Understanding The Bankruptcy Process

Everyone’s circumstances are different, but most Chapter 7 proceedings follow the same process.

  1. You will file a petition for bankruptcy with your local court.
  2. The petition puts an automatic stay in place, which prevents your creditors from further collection actions.
  3. You will attend a hearing with a bankruptcy trustee. You are allowed to have an attorney present at this hearing.
  4. Your nonexempt assets will be liquidated to pay down your remaining debt.
  5. Finally, the court will discharge your unsecured debts.

Do I Qualify For Chapter 7?

To qualify for Chapter 7 bankruptcy, you must pass something called the “Means Test”. This measures your income against the median income of your home state to determine whether your income, offset by your expenses, is low enough to file Chapter 7. If your income exceeds this limit, you may not qualify. If you are interested in determining if you qualify for filing a Chapter 7, you can contact Paulsen & Reissner, PLLC, and one of our attorneys can help you to determine your eligibility.

If you are thinking about filing bankruptcy due to legal bills from a serious personal injury, then our law firm may be able to help you recover monetary compensation in an injury lawsuit. Ask us more questions in a free consultations.

Free, Nonjudgmental Consultations Available

You do not have to face bankruptcy alone. You can work with Paulsen & Reissner, PLLC, and we will assist you. We also provide free initial consultations at our office. You can schedule your consultation by calling 623-428-1923 or by using our online contact form.