Is A Chapter 7 Bankruptcy Filing Right For You?

Nearly 80 percent of Americans are in debt. For some this is, paradoxically, a sound investment strategy. For most, however, debt means financial complication and stress. Mortgage payments, credit card interest and medical bills combine to make one’s money matters unmanageable.

More and more Americans are finding relief through Chapter 7 bankruptcy filings. The advantages have become obvious. Upon filing, creditors are prohibited from contacting debtors. Wage garnishment actions cease. Moreover, individuals are often able to exempt their homes and other valuable assets from proceedings. Businesses also benefit from these filings, as it allows them to dissolve their entities with minimal complication.

If you’re considering a bankruptcy filing, Sanders Law Firm can help you determine whether it’s the appropriate decision. With offices in Roswell and Albuquerque, we serve throughout New Mexico, and have helped individuals and businesses with bankruptcy matters since 1945.

Am I Eligible For A Chapter 7 Filing?

To be eligible for a Chapter 7 bankruptcy filing, you must meet certain criteria. Specifically, petitioners’ income and assets must be below a certain threshold; higher-end earners may qualify instead for Chapter 13 filings.

If you wish to file under Chapter 7, an attorney can assert your right to do so. Likewise, at Sanders Law Firm, our practitioners offer help to clients at every step. Our aim is to take the anxiety out of the process, and help our clients emerge on firm financial footing.

To learn more, schedule a consultation with our firm. You can call us at 575-578-4392 or reach us online. We’re here to answer your questions and address your concerns.