class="design blog blogEntry blog-entry"
The Law Offices Of Ambrogio, Pletter & Associates, llc
Call Today For A Free Consultation
203-502-7436
Toggle Our Practice Areas

Basics of Chapter 7 bankruptcy

The phone keeps ringing, letters keep arriving and bills keep piling up. Sometimes it seems like there is no end in sight for a Connecticut consumer facing financial problems. However, with Chapter 7 Bankruptcy, there can be an end to the financial burden and relief for the individual.

Perhaps one of the greatest immediate benefits of Chapter 7 bankruptcy is that it results in an automatic stay as soon as the petition is filed and creditors are notified. This automatic stay prevents most creditors from attempting to collect debts or seize property. For the duration of this stay, a creditor is prevented from filing a lawsuit for collection against the individual and/or attempting to garnish one's wages. Furthermore, creditors are prevented from calling or contacting the individual in any manner.

As a part of the filing process, the individual will provide the court with a complete list of liabilities. This should include the name of the creditor, the type of credit and the amount owed. Additionally, the individual will provide the court with details related to the individual's income and living expenses. Living expenses should include rent or mortgage payments, utilities, car and gas, food, clothing and other necessary items. Finally, the filer will provide the court with a listing of any property owned by the individual.

The decision to file for Chapter 7 bankruptcy can be a difficult one for a Connecticut resident to make. However, for those faced with this decision, the prospect of remaining burdened with excessive debt can prove to be even more difficult. An experienced attorney can help one analyze a particular situation to help decide upon an appropriate course of action.

Source: bankruptcy.findlaw.com, "Chapter 7: How it Works", Accessed on May 24, 2017

No Comments

Leave a comment
Comment Information

Contact Us

To arrange a free consultation with an experienced Connecticut bankruptcy lawyer, call 203-502-7436 or fill out this form.

Get Started Today

Bold labels are required.

Contact Information
disclaimer.

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.

close

Privacy Policy

Ambrogio, Pletter & Associates, LLC
2019 Main Street
Stratford, CT 06615

Phone: 203-502-7436
Fax: 203-612-9200
Stratford Law Office Map