Chapter 7 Bankruptcy
Flint bankruptcy lawyers help get you a fresh start
The goals of the Flint Bankruptcy Law Office of George E. Jacobs & Associates are to get you past your difficulties as soon as possible and to set you on a course for a healthy financial future. Our Flint bankruptcy attorneys can determine if Chapter 7 is the best solution for you and help you through the filing process from start to finish.
A Chapter 7 bankruptcy is a fresh start for individuals, partnerships and corporations with no hope of repairing their financial situations. It is the most common form of bankruptcy and involves a liquidation of personal assets. Most or all of your assets are sold and the proceeds are distributed to your creditors.
A Chapter 7 bankruptcy helps people who have high unsecured debts, such as:
Some of your assets — including your car and home — may be declared exempt, allowing you to keep them.
You must pass a means test to qualify for Chapter 7. This means test is a set of formulas used to determine if you have the ability to pay your outstanding debts. If you are found to be able to pay, you cannot file a Chapter 7 bankruptcy.
Filing Chapter 7 bankruptcy in Flint, Michigan
If you need help filing a Chapter 7 bankruptcy in Flint, contact the Flint Bankruptcy Law Office of George E. Jacobs & Associates to set up a free initial consultation.