Chapter 7

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Chapter 7 Bankruptcy Attorney In Lansdale & Philadelphia, Pennsylvania

Is Chapter 7 Bankruptcy Right for Me?

Chapter 7 provides debtors who are unable to pay their bills the fresh start they are looking for by eliminating their debts. It can also be used by businesses that wish to liquidate and cease operations. Although changes to the Bankruptcy Code have made the process more complicated, most debtors can still eliminate debts and get a fresh start through Chapter 7 Bankruptcy. In many cases, you can keep your personal property, including your car and home. Contact us at Tadross Law to set up a FREE CONSULTATION to discuss your options in this regard.

Contact Tadross Law to schedule a consultation with a lawyer today at 215-774-6158

The Chapter 7 Process

To determine if Chapter 7 is right for your situation, we will provide a thorough review your financials. If Chapter 7 is appropriate, we will prepare and file your Bankruptcy petition, schedules, and associated documents. In most cases you do not have to go to court. However, you will have to attend a short hearing held by the Chapter 7 Bankruptcy Trustee for a meeting of creditors. At this hearing, the Trustee will review your petition and schedules, and will likely ask you some questions about your financial condition. Shortly thereafter, if there are no objections, you will receive a discharge of your debts signed by the judge. A typical Chapter 7 matter will take approximately 3-6 months to complete. 

Debts You May Eliminate Under Chapter 7

Chapter 7 will typically eliminate the following kinds of debts:

  • Credit card debts
  • Medical bills
  • Lawsuit debts/civil judgments (including personal injury)
  • Personal and private loans
  • Some taxes, including state, local, and federal income taxes 
  • Deficiency debts on foreclosures and repossessed vehicles


Please be aware that certain debts, like federally backed student loans, are not dischargeable in bankruptcy, along with debts like alimony and child support, damages for personal injury to someone else resulting from DUI, criminal fines and restitution, court fees, and certain taxes. 

Property You Can Keep Under Chapter 7

Most items of personal property are exempt from repossession, meaning you may be allowed to keep them. In over 90 percent of consumer bankruptcy cases, debtors keep all of their personal property. Exempt property can include:

  • Equity in your home (up to a certain amount)
  • Motor vehicles
  • Clothing
  • Household goods and furnishings
  • Household appliances
  • Jewelry
  • Pensions, including money in 401k plans
  • Tools of the debtor's trade or profession
  • A portion of unpaid but earned wages
  • Public benefits, including public assistance, Social Security, and unemployment compensation, accumulated in a bank account


Contact us at Tadross Law to set up a FREE CONSULTATION to discuss your Chapter 7 bankruptcy in greater detail!

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Disclaimer: We are a debt relief agency. We are attorneys who help people file for bankruptcy relief under the bankruptcy code.

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