Top 10 Facts About Chapter 7 Bankruptcy Lawyers and the Filing Process!
Filing for bankruptcy is a tough decision, but sometimes it's the best way to get a fresh start. If you're drowning in debt, a Chapter 7 bankruptcy lawyer in Maryland can help you wipe the slate clean. But before you jump into the process, you should understand how it works and what lawyers bring to the table. There’s a lot of misinformation out there, so let’s clear things up with ten essential facts about Chapter 7 bankruptcy lawyers and the filing process. 1. Chapter 7 Wipes Out Most Debts—But Not All Chapter 7 is designed to eliminate unsecured debts like credit cards, medical bills, and personal loans. However, some debts don’t go away. Student loans, child support, alimony, and certain tax debts usually survive the process. 2. Not Everyone Qualifies for Chapter 7 You can’t just decide to file for Chapter 7—you need to pass the means test. This test looks at your income, expenses, and household size to see if you qualify. If you earn too much, you may have to file for Ch...