Chapter Seven Bankruptcy: A Fresh Start

Written by Adam Peck Category: Nursing Homes January 17th, 2013 1 min read

Chapter 7 bankruptcy is sometimes referred to as “fresh start” bankruptcy. It gets this name because it can erase most debts. Generally, a Chapter 7 bankruptcy makes the most sense for individuals overwhelmed by medical or credit card debt. It is can also be a useful strategy for people facing loan refinances or who have lost an income source through a layoff. and have absolutely no ability to pay their debts says California Bankruptcy Attorney Steven C. Peck.

Typically, a Chapter 7 bankruptcy is used by folks who aren’t likely to gain the ability to pay back their debt under a payment plan such as occurs under a Chapter 13 bankruptcy. The process of filing Chapter 7 bankruptcy is fairly straightforward but does require an eligibility and application process, including a means test to determine your eligibility to receive a Chapter 7 Bankruptcy discharge.

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Written by Adam Peck

Expertise: Personal Injury

Adam J. Peck, ESQ is a principal with Peck Law Group, APC. In 2008, Mr. Adam Peck received his Juris Doctorate from Whittier Law School where he graduated Cum Laude. His practice is primarily dedicated to representing Elders, Dependent Adults, along with their loved ones and family members, who have suffered horrific personal injuries.