Chapter 7 Bankruptcy
Start Your Journey to Financial Recovery
Retain a bankruptcy lawyer in iredell county, nc and surrounding counties
Bankruptcy is something many people may consider a financial last resort, but this process may be the best way for you to deal with your debt. The Law Office of James B. Mallory III
in Statesville, NC can help you if you want to file for Chapter 7 bankruptcy. You'll meet with our bankruptcy lawyer to go over your options and determine the best course of action for your situation.
Contact us now if you need a lawyer.
What happens during Chapter 7 bankruptcy?
If you're considering filing for bankruptcy, you'll want to learn about the effects of each kind of bankruptcy. If your Chapter 7 bankruptcy goes through:
- The court will place a stay that stops creditors from collecting payments
- You may have to liquidate nonexempt assets
- Your qualifying debts will be wiped clean
Bankruptcy can also have a negative impact on your credit score, but debt alleviation may be worth this cost. Meet with a bankruptcy lawyer today to learn what debts do and do not qualify for Chapter 7 bankruptcy.