The Advantages of Chapter 7 Bankruptcy

If you, the debtor, meet the necessary criteria, filing for Chapter 7 Bankruptcy might be a wise choice. Many debtors prefer Chapter 7 over Chapter 13 because Chapter 7 Bankruptcy discharges a larger number of debts. However, there is a catch. A debtor has to qualify for Chapter 7 filing by making below a certain amount of income. The trustee of the debtor also sells some of the creditor’s property that is not exempt. The money is then used to pay creditors and debt is discharged. Although the debtor does lose some property, Chapter 7 allows the debtor to start over quickly and rebuild credit without losing all future income. Most debt can be discharged, with the exception of some tax debt, child alimony, student loans, and debts acquired via fraud/ illegal activity. Chapter 7 typically lasts a few months when compared to Chapter 13, so debts are discharged quickly.

If you cannot seem to pay off your debt- give us a call today and schedule a free consultation. We will help you achieve the financial freedom you so strongly crave.

Fridlin & Associates, P.C.

1517 Voorhies Ave. Suite 4

Brooklyn, NY 11235

(718) 372- 4400

debt discharge- debt write-off


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Fridlin & Associates, P.C. is a financial law firm for individuals and small businesses in metropolitan New York. If you or your business face a problem concerning bankruptcy, debt settlement, loan modification program, the sale and purchase of residential or commercial real estate, landlord/tenant disputes, enforcing your rights as a creditor, the sale and purchase of a business, or employment litigation, Fridlin & Associates stand ready to provide the solution that protects your best interests. We can help you: Eliminate Debt! Stop Foreclosure! File for Bankruptcy! Apply for a Loan Modification Program! Stop Wage Garnishment! Stop Lawsuits! Eliminate Judgments! Eliminate or Reduce the second mortgage on your home! Reduce the mortgage on your investment property to its fair market value! Eliminate your obligation to pay creditors and medical expenses! Eliminate business loans! Release Frozen Bank Accounts! Stop harassing phone calls! Please call 718-372-4400 today for a free consultation. We have appointments available Monday through Friday and your first visit is free. Fridlin & Associates, P.C., also provides legal representation on wage dispute matters under the Fair Labor Standards Act in both federal and state courts. Learn more about Elaine Fridlin and Fridlin & Associates here. If you’re interested in bankruptcy as a potential solution to your debt management problems, you can learn more about bankruptcy for both consumers and businesses here.

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