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Chapter 7 Bankruptcy in Bellevue Seattle Kirkland | Bankruptcy Attorney

Bellevue Branch – (425) 452-9797

Federal Way – (206) 414-2750

What is Chapter 7 Bankruptcy?

What is Chapter 7 Bankruptcy? 

Chapter 7 bankruptcy is the most common and widely used form of consumer bankruptcy. Chapter 7 can help to resolve large amounts of debt that can feel overwhelming under the protection of the federal court. Some filers may end up handing over some valuable assets such as cars and highly valuable belongings, but in most cases, this is not necessary. What is Chapter 7 Bankruptcy?

Chapter 7 can help to settle almost every unsecured debt or debts without collateral such as medical bills, credit cards, and personal loans. Chapter 7 will not cover or settle debts like back taxes, court judgments, alimony, child support, and student loans.  

Though you may see your credit score begin to improve in the months after you file for Chapter 7 bankruptcy, it will leave a serious mark on your credit history and will show on your credit report for the next 10 years. This can make it difficult to obtain new credit.  

Who Qualifies for Chapter 7  

In order to qualify to file for chapter 7 you must meet the following requirements:  

How to File Chapter 7 

The process can be completed in about six months with these steps 

 

Should You File Chapter 7 

Chapter 7 Bankruptcy may be a necessary step if:  

The best way to decide whether to file for bankruptcy and what type of bankruptcy to file is to talk with a bankruptcy attorney or credit counselor before filing.  

Advantage Legal Group lawyers offer a free bankruptcy consultation in person, over the phone or on Zoom video conference. Give the experienced bankruptcy legal team of bankruptcy attorneys a call at 425-452-9797.