avoid alternative options
what is bankruptcy
Bankruptcy Alternatives
  
Private Free Chat
  
   

 
 


Filing Chapter 7 Bankruptcy

Personal bankruptcy under Chapter 7

Personal Bankruptcy is the filing of a petition with the bankruptcy court to obtain protection from collection efforts of your creditors. It is normally triggered when an individual’s debts exceed current income and property. At the end of bankruptcy, some or all of the individual’s debts will be discharged.

Bankruptcy involves a Federal court proceeding in which the individual’s obligations are balanced against his or her creditor's rights. The individual’s hope is to reduce or eliminate the debt completely . The creditor's objective, on the other hand, is to collect as much of the debt as possible. The bankruptcy proceeding is the forum in which the debtor and the creditor resolve differences. A judge will ultimately decide what you still have to pay and what will be discharged.

Business Bankruptcy under chapter 7

Some companies are so far in debt or have other problems so serious that they can't continue their business operations. They are likely to "liquidate" and file under Chapter 7. Their assets are sold for cash by a court appointed trustee. Administrative and legal expenses are paid first, and the remainder goes to creditors. Secured creditors will have their collateral returned to them. If the value of the collateral is not sufficient to repay them in full, they will be grouped with other unsecured creditors for the rest of their claim. Bondholders, and other unsecured creditors, will be notified of the Chapter 7, and should file a claim in case there's money left for them to receive a payment.

Stockholders do not have to be notified of the Chapter 7 case because they generally don't receive anything in return for their investment. But, in the unlikely event that creditors are paid in full, stockholders will be notified and given an opportunity to file claims.

Note: If you are facing a possible home foreclosure please visit the nation's leading home saving service: ihomesaver. You have options to save your home, let iHomesaver help you find them today.

Alternatives To Filing Chapter 7 Bankruptcy

If you would rather avoid the stigma, cost and stress of filing for chapter 7 and still significantly reduce your debts you have a legal and effective option.

  • Your debts could be reduced by up to 60%*
  • You could reduce your monthly expenses by half.
  • You don't need to take out a loan.
  • You don't need to be a home owner or even have good credit.
  • You could be debt free in 12-36 months.

You can read about the solution in detail here: What is Debt Negotiation?

Or you can speak directly with a debt negotiation professional and have your questions answered and see if your situation qualifies. This is a free and no obligation service.

If at the end of this consultation you are comfortable with the service and debt reduction amount you can start right away. If you feel this is not the right solution for you, you have absolutely no obligation or cost. Simply thank your counselor and say goodbye.

It's that simple to find out if you can avoid Chapter 7 and reduce your debts.
Start now with our easy 2 step consultation process below:

alternatives debt avoiding
relief

Avoid Bankrupty in 2 Steps- Debts you wish to reduce

Credit Card Debt

Other Unsecured Debt

Secured Debts

# of credit cards
Private

Free Service to Help You Assess Your Options!

options
assistance help services

 

 dot
 
 
title
Alternatives
  Alternative to Bankruptcy
Alternatives
  Effects Of Bankruptcy
Alternatives

 About Our Service
 
 I Want To
Alternatives
  Avoid Chapter 13
Alternatives
  Avoid Chapter 11
Alternatives
  Avoid Chapter 7
Alternatives
  Reduce Medical Bills
Alternatives
  Prevent a Foreclosure
 
 Bankruptcy Questions
Alternatives

 What is bankruptcy?
Alternatives

 Impact of Bankruptcy
Alternatives

 Bankruptcy and Your Credit
Alternatives

 My Home and Bankruptcy
Alternatives

 Bankruptcy and Your Job
Alternatives

 Bankruptcy and Divorce
Alternatives

 Bankruptcy Costs and Fees
Alternatives
  When to file for Bankruptcy
Alternatives

 Chapter 7 Information
Alternatives

 Chapter 11 Information
Alternatives
  Business Bankruptcy
Alternatives
  Chapter 13 Information
   
  Bookmark and Share  
 

Want answers now?

  Live chat by LivePerson

 


free
choices filing filling

 

 

We are Not offering a Government based or backed Bailout Program.

Chapter 7 11 13 is a referal service that puts you in touch with companies offering services you are interested in receiving quotes and consultations from. Chapter 7 11 13 is not an end provider of debt relief services nor are we part of any agreementor contract of services you may commit to with a debt relief company.

The content provided on Chapter-7-11-13.net is a general description of services. Actual benefits, costs and features of services will vary from company to company. It is up to you, the consumer to consult with the service provider and any professional you deem appropriate to educate yourself on all the details of their program before making any decision.

By completing a form on this website you are requesting a service to contact you, in most cases by telephone, regardless of your status on the do not call list (DNC). Forms on this website are for information requests only, mainly for quotes, they are never an application or pre-qualification for services. Chapter 7 11 13 evaluates carefully the service providers we put you in touch with, however we do not endorse nor are we responsible for the actions taken or services provided by any particular company that may be found by using the Chapter-7-11-13.net website.

Chapter 7 11 13 is not providing legal, financial, investing or any other professional advice. Although we believe the content on this website to be acurrate it is general in nature and does not fully describe the complex details of every debt situation or program you may decide to use. It is recommended that you always contact a professional in the appropriate field for advice before making any decision.

In no case should you, the visitor, believe that there is any gaurantee that a you will not have to file bankruptcy now or in the future. This type of claim is not possible since bankruptcy is YOUR decision. * Up to 60% Debt reductions shown are real examples of some of the higher potential debt reductions possible. The debt negotiation industry averages about a 50% debt reduction, plus fees for their service, your results will vary. Chapter 7 11 13 is not the end provider of debt relief service thus we do not gaurantee any debt reduction amount, this will be estimated by the debt relief company you choose to use.

Important Issues to Consider when Evaluating Debt Settlement or Negotiation Programs

Consumers should not use a debt settlement service if they are able to pay their minimum balances due each month. Nor should the join if they do not have a legitmate financial hardship.

1) late fees, penalties, and interest will continue to accrue on the consumer’s debt until the consumer’s creditors accept and receive a settlement; (2) a consumer’s creditors may still sue to collect on the debts and garnish the consumer’s wages; (3) interest rates applicable to the consumer’s debt may increase; (4) any money a consumer saves in negotiating a settlement with a creditor must be treated as income for tax purposes; and (5) a debt settled for less than the full amount owed may result in a negative notation on the consumer’s credit report.

Chapter 7 11 13. is not acting as a lender or broker. The information provided by you to Chapter 7 11 13 is not an application for a mortgage loan, nor is it used to pre-qualify you with any lender. If you are contacted by a lender or broker advertising within our network, your quoted rate may be higher, depending on your property's location, your credit score, your loan-to-value ratio, debt-to-income ratio, and other factors.

Debt relief services may not be available in all states. It is your responsibility to confirm the debt relief service you choose is able to do business in your state.

Chapter-7-11-13.net is not liable for any loss resulting from a business relationship formed by you the consumer and an end service provider found using the chapter7-11-13.net website.

 

 

 

 

Chapter 7 bankruptcy | Chapter 13 bankruptcy | Chapter 11 bankruptcy