Rock Hill, Chapter 7 Bankruptcy Lawyer
If you’re drowning in debt and don’t see a way out, you should consider filing for bankruptcy. When you talk to the knowledgeable attorneys at The Howze Law Firm LLC, you can learn how bankruptcy works and whether you’re eligible to file. Our team has helped numerous clients get out of debt through bankruptcy, and we want to do the same for you.
One of the most popular types of bankruptcy is Chapter 7, which can offer immediate and permanent relief from debt collectors when you use it to discharge your debts. If you qualify, you can get the fresh financial start you’re hoping for. Our bankruptcy attorneys are eager to achieve your desired outcome, so call our Rock Hill law firm to begin your case.
How Does Chapter 7 Bankruptcy Work?
Chapter 7 requires you to sell your assets to pay your debts. To begin, a trustee will review your assets and sell everything possible, giving the proceeds to your creditors. Once all eligible assets have been sold, your debts will be considered paid, and you will get a discharge order, which means your creditors can no longer contact you for payments.
Filing bankruptcy means you will have to give up most items of value, so if you own several houses, motor vehicles, or valuable items, your trustee will sell them to discharge your debts. However, this doesn’t mean you will be left with nothing. You should qualify for exemptions to keep some assets, such as your home, car, household items, and work-related tools. Contact a lawyer with questions about what you can keep. You might be surprised at how bankruptcy can benefit you if you struggle to pay for payday loans, personal loans, credit card debt, and more.
Do You Qualify to File Bankruptcy?
Filing for Chapter 7 in South Carolina requires you to meet specific qualifications. For example, your most recent income must be lower than the median income. A bankruptcy attorney will help you with this step during your initial consultation. If your income is too high for Chapter 7 bankruptcy, you might have to use an alternative way to get rid of unsecured debt, such as Chapter 13 bankruptcy.
Another detail is that you can only file for Chapter 7 every eight years. So, if you filed for this type of bankruptcy less than eight years ago, you must wait to file or choose another way to stop creditors from calling you for the money you owe. Call our office to talk to a Chapter 7 bankruptcy lawyer to learn if you’re eligible.
How Can You Prepare to File for Chapter 7 Bankruptcy?
If you’re ready to start your bankruptcy case, you should hire an experienced bankruptcy attorney to guide you. It’s also helpful to be prepared with the necessary documents before going to bankruptcy court. They include:
- Tax returns for the last two years
- Paystubs to show proof of income for the last six months
- Recent bank statements
- Statements showing the balance on your mortgage or car loan
- Car and home valuations
- Your credit report
- A list of household goods
Your lawyer will let you know if you need additional documentation before filing a bankruptcy petition. At The Howze Law Firm LLC, we have in-depth knowledge of bankruptcy law and experience helping individual debtors get a fresh start through Chapter 7, so you’ll be in good hands. Contact us to schedule a consultation.
Call a Rock Hill Chapter 7 Bankruptcy Lawyer Today!
If you’re interested in getting debt relief while keeping some of your property, such as your home and car, come to us to find out if Chapter 7 bankruptcy is right for you. We have helped countless clients discharge most debts without selling all their property, so we have years of experience offering this legal service to eligible debtors.
When you hire us for legal advice, we will use our knowledge of bankruptcy laws to determine your eligibility for Chapter 7. At that point, we will ensure you know all the details of your case, including how a homestead exemption might affect you and whether you’ll need to complete credit counseling. Call us at 803-266-1812 to get started.