Benefits of Chapter 7

Benefits of Chapter 7 Bankruptcy


America's finest bankruptcy attorneys generally agree to disagree on whether Chapter 7 or Chapter 13 is the best option for most clients seeking debt relief.

But among the best of the best bankruptcy lawyers, a sizable contingent goes out of its way to rigorously contrast and compare the advantages and disadvantages of Chapter 7 and Chapter 13, and to declare Chapter 7 bankruptcy the all-around better option.

When considering the reasons behind this declaration, you ought keep in mind, however, that the opinions of even the very best bankruptcy attorneys cannot replace a personalized in-depth consultation with one of the finest bankruptcy lawyers in your community.

A top-rated bankruptcy attorney can save you both time and money by telling you whether your individual circumstances allow you to file for a Chapter 7 bankruptcy in the first place.

High Priority: The Speed and Efficiency of Chapter Seven Bankruptcy

Highly respected client-centered bankruptcy lawyers understand that most clients want to put bankruptcy behind them and get on with their lives as soon as possible.

Aggressive well-experienced bankruptcy attorneys know the value of choosing a bankruptcy strategy that best suits a client's financial and emotional resources. Even the toughest bankruptcy lawyers know that their clients do not have limitless tolerance for bankruptcy-related stress.

By assigning high priority to client's time, bankruptcy attorneys usually advise their qualifying clients to choose Chapter Seven because its most dramatic impacts dramatically diminish, or entirely disappear, within twelve months after filing. Within one year, many Chapter 7 clients can see their credit score actually improve.

On the other hand, Chapter 13 consequences, such as making it difficult, if not impossible, to qualify for a loan, can linger for three to five years.

Chapter 7 also saves clients' time not only by waiving monthly payments and paperwork, but also by being, from the outset, a drastically shorter overall process.

From start to finish, Chapter 7 takes about four months. Chapter Thirteen? A minimum of three years, and often taking as long as five.

High Efficiency: Chapter 7's Speed Keeps Costs Low

For many people investigating bankruptcy, saving time is less of a priority than saving money. They look above and beyond calenders and clocks to keep a steady eye on the bottom line. For them, the best bankruptcy lawyer is one who shows great sensitivity for the scope and weight of financial crisis.

Top-rated bankruptcy attorneys are quick to grasp what matters most to a client and can prioritize their strategies accordingly. The fact that a Chapter Seven bankruptcy usually costs far less than Chapter Thirteen makes Chapter 7 a very attractive suggestion for bankruptcy lawyers serving highly budget-conscious clients.

Chapter Seven bankruptcy offers further financial advantages in that it takes into account only income earned six months prior to filing for bankruptcy, eliminates almost all unsecured debts, and, in most cases, permits people filing for bankruptcy to hold on to their assets.

High Satisfaction: Don't Wait to Contact the Law Offices of Michael S. Schwartz

For a free initial consult regarding whether Chapter 7 is right for you, please call 215-259-3685. Throughout Bucks County, Montgomery Country, Delaware County, Chester County, and Philadelphia County, Michael S. Schwartz has earned high praise from clients dealing with bankruptcy and debt relief issues. With offices in Perkasie, Southampton, and Havertown, Michael S. Schwartz can immediately offer you the counsel you need.