Law Office of Paul Petrillo
Contact Us Today 603-635-4149
Menu Contact

What are the biggest advantages of Chapter 7 bankruptcy?

If you're considering Chapter 7 bankruptcy, there's a good chance that your finances are in shambles. Even though you're frustrated with your situation, taking a few key steps will go a long way in getting back on track.

There are many advantages of Chapter 7 bankruptcy, including the following:

  • A fresh start: Unlike Chapter 13, Chapter 7 gives you a fresh start within four to six months. You'll then have the opportunity to build the financial life you've been dreaming of.
  • No repayment plan: With Chapter 13 bankruptcy, you'll repay some or all your debts through a repayment plan that lasts anywhere from three to five years. Chapter 7 bankruptcy doesn't require this, thus allowing you to keep all of your future income.
  • Fast discharge of debt: The discharge of debt typically occurs within two to three months of filing for Chapter 7 bankruptcy. This immediate progress gives you peace of mind, making it easier to see that you made a sound decision.
  • No debt limit: Chapter 13 bankruptcy limits the amount of debt you can have to qualify. Chapter 7 bankruptcy has no such limit.

With these details in mind, you can make an informed decision as to whether or not Chapter 7 bankruptcy is the right decision for you and your finances at the present time. An experienced attorney can also provide valuable guidance.

If you decide in favor of Chapter 7 bankruptcy, you should begin to collect all the necessary information required to file. This will put you in a position to proceed in a timely manner, thus moving you one step closer to a better situation.

No Comments

Leave a comment
Comment Information

Start Your Case Today

Whether you have a family law issue, an estate planning question or are considering bankruptcy, I can help you find a sustainable solution that provides relief and hope. Schedule your consultation at my Nashua, New Hampshire office today by calling 603-635-4149 or by sending us an email.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

email us for a response
Law Office of Paul Petrillo