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Chapter 7

Chapter 7 Bankruptcy in Montgomery County

Get Counsel from an Experienced Bankruptcy Attorney

Individuals who have substantial amounts of debt may have the option of declaring bankruptcy under Chapter 7 of the United States Bankruptcy Code. This option can help debtors get a fresh start on their financial situation. Chapter 7 is also known as straight or liquidation bankruptcy. It is designed to help eliminate debts.

If you file for bankruptcy under Chapter 7, you will be allowed to keep specific types of property and can get your assets in order. Equity in your house or car will be protected in most cases. Our firm can help you examine your assets and determine whether this chapter is best for your situation.

Contact our firm by scheduling a free evaluation or by calling (610) 813-2140!

Why hire Eugene A. Camposano, Attorney at Law?

Filing for Chapter 7 can be a complex process. For that reason, you will want a strong and able bankruptcy lawyer by your side. Since 1994, our attorney has been fighting for clients and protecting their rights. He uses his two decades of experience to protect his clients against creditors.

If you choose to work with Eugene A. Camposano, Attorney at Law, he can help you in the following ways:

  • Pursue complete financial freedom
  • Make your life debt-free and stress-free

We can help you out of your difficult financial situation. If you are considering filing for bankruptcy, contact our firm today!

Understanding the Chapter 7 Bankruptcy Process

Under the United States Bankruptcy Code, certain procedures exist for individuals who want to file for bankruptcy. The process that individuals will have to navigate if they wish to have their debts discharged can be lengthy. Our firm can carefully help you pursue a positive case outcome! We serve clients throughout Pennsylvania and are ready to help you!

Common debts that can be discharged in bankruptcy are:

  • Personal loans
  • Medical bills
  • Utility bills
  • Home loan deficiencies
  • Car loan deficiencies
  • Older income tax debt

Debts that cannot be discharged are:

  • Court-ordered fines
  • Child support
  • Alimony payments
  • Student loans

We understand that even the most hardworking individuals fall into debt. If you are faced with debt and cannot repay it, our Montgomery County bankruptcy lawyer can help you get a fresh start!

Contact Eugene Camposano Attorney in Montgomery County

You should gain an understanding of the federal and Pennsylvania laws associated with bankruptcy. At Eugene A. Camposano, Attorney at Law, we can discuss your case and help you know what route to pursue. Our first priority is to serve your best interests.

We assist clients from the start of their cases until the end. If Chapter 7 is the best route for you, we can take action at once. Call today for the legal assistance that you need.

Frequently Asked Questions About Chapter 7

If you are pursuing debt relief through Chapter 7 bankruptcy, you will need to have your questions answered and should have confidence in your knowledge of the process. Below, we provide answers to a number of frequently asked questions regarding bankruptcy. If your questions have not been answered, feel free to contact us at your earliest convenience!

Are the rumors true that it is now harder to qualify for Chapter 7?
In 2005, the bankruptcy laws were revamped by Congress. One of the changes made the qualifications for Chapter 7 filers to be more rigorous. The new rules have established a standard for determining if a debtor can fund a Chapter 13 repayment plan, rather than having the bankruptcy judge make that decision. If the debtor's income is lower than the median income, the debtor will likely qualify for Chapter 7, but the judge can still require him or her to file under Chapter 13.

If I am current on my mortgage, can I keep my home?
If all of your equity in the home is exempt, you can keep your home in a Chapter 7 bankruptcy. Exempt equity is the amount of property that you are allowed to keep. Under the homestead exemption, bankruptcy law allows homeowners to keep a limited amount of equity in their home.

What should I bring to my meeting of creditors?
Your trustee should contact you or your lawyer with a list of items to bring to the meeting of creditors. Some of the items will likely include:

  • Current pay check stub
  • Bank statements as of the date of filing
  • Copies of deeds
  • Copies of assets
  • List of pending lawsuits
  • Proof of income

If you have any further questions or are ready to file for bankruptcy under Chapter 7, contact our firm today!

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