Chapter 7 Bankruptcy

When your life seems to be folding in on itself because of a dire financial situation, take a moment to breathe and remember that you have the strong support of our firm. Bankruptcy doesn't have to mean the end of everything, and it doesn't have to overpower the important things in your life. Rather, it can be an opportunity to rebuild your financial state.

Decide Whether Chapter 7 Bankruptcy Is Right For You

Chapter 7 is the most common form of bankruptcy suited to the individual, and its process is also the quickest — lasting about six months. Notably, it will not erase student loan debts, and it will leave a mark on your credit score. But overall, Chapter 7 bankruptcy is a real opportunity for a fresh start.

This type of bankruptcy primarily discharges unsecured debt, or debt without collateral, such as credit card debt and debt from personal loans or medical bills. If you're trying to figure out whether filing for Chapter 7 bankruptcy is the right decision, consider a couple important qualifiers:

  • Passing a required means test will determine whether you are qualified for Chapter 7. This test will evaluate your income, expenses, and assets, but most people pass easily.
  • You cannot have finalized Chapter 7 proceedings within the past eight years or Chapter 13 within the past six years.

You’re not out of options

Find a Solution

The Bankruptcy Process, Top to Bottom

When you come to our office, we'll brief you on the entire process, which includes pre-filing bankruptcy counseling, as well as a financial education course before your debt is forgiven. You'll also meet with us and your creditors, and the court will appoint you a bankruptcy trustee. The trustee will decide whether your non-exempt assets should be sold in order to pay back your creditors.

Above all, we understand the helplessness you feel, perhaps if you're mired in debt from medical bills. The medical system and insurance companies in our country are unforgiving, especially when you've suffered a significant injury or condition that has drained your time, energy, and all your financial resources.

We Care to See You Through & Beyond

We care greatly about your well-being, and we want to be there to see you get through — especially since there may be people who depend on you. Chapter 7 bankruptcy isn't something you can simply do yourself; the process requires specialized knowledge and a trusted legal advocate, which you can find with us. We can even talk to you about making a good financial plan and how to rebuild your credit after your time with us.

Getting you Through Chapter 7 Bankruptcy in Frankfort, KY

If you’re considering bankruptcy, you probably feel like you’ve run out of options. Maybe you feel like it’s impossible to ever be optimistic about money again. What’s more, perhaps you have no choice but to pay for costly medical expenses or you have to deal with a home foreclosure. Natalie Lile Law is here in Frankfort, KY to assist you in getting your financial situation back on track.