A Chapter 7 Bankruptcy discharges all of your unsecured debt and gives you a “fresh start.”  Chapter 7 Bankruptcy is often referred to as a straight or normal bankruptcy.  In the vast majority of cases, all of the debtor’s property is exempt and the debtor losses nothing. These cases are referred to as “no asset” cases. Ideally, all debtors would want to file under Chapter 7, but there are certain situations where filing a Chapter 13 Bankruptcy would make sense.

Consider Filing a Chapter 7 When You

• Have high credit card balances that you can not possible pay
• Have large medical bills you can not pay
• Suffering from unemployment or underemployment
• Are being sued or have civil money judgments against you
• Your wages are about to be garnished
• Have debt from a business failure
• Are under a lot of stress from creditors