Law Office of
Bardsley and Gray

Any Bankruptcy Case is filed under Title 11 of the United States Bankruptcy Code. Specifically, if one files for Bankruptcy under Chapter 7, one is typically looking for a new beginning, or fresh start from overwhelming debt. Chapter 7 is a 'liquidation' form of Bankruptcy, but, in many cases your assets can be protected, thus, most likely, you will lose nothing during the case. In most instances, your home, your car, your 401K plan, etc. can be protected from creditors. There are limitations, but a skilled Bankruptcy Attorney will advise you and represent you throughout the entire process. If issues arise, you will be fully advised as to your rights and choices prior to the filing of any case. There should be no surprises. Additionally, your credit cards, store cards, personal loans, repossession, foreclosure, medical bills, and many other debts will be wiped clean from your record, forever.

Finally, although a Chapter 7 Bankruptcy filing is disclosed on your credit report for a period of ten years, your credit is not permanently affected for this time period. With the proper utilization of credit, lines of credit such as credit cards and car loans are available almost immediately. Importantly, one can obtain a mortgage in approximately 18 to 24 months. There is true financial recovery at the end of this process.