Filing Bankruptcy Chapter 7

Everything You Need to Know About Filing Bankruptcy Chapter 7

Filing Chapter 7 bankruptcy is the right option for people with unsecured debts, including income tax debt, credit cards, personal loans, and deficiency claims from medical bills or repossessed vehicles. If you have little or no disposable income, filing for bankruptcy can help eliminate your debt and give you the opportunity for a fresh start with no payments to creditors. Our experienced bankruptcy attorneys can help you understand the process and assist you with how to file for Chapter 7. You will receive all the information you need to make sure you choose the best possible debt relief option for your unique situation. While many people fear the possibility of losing their assets when they file for bankruptcy, we are committed to helping you find a solution that will allow you to keep as many of your assets as possible. If it seems that some of your property may be at risk, we can look at other solutions to better fit your requirements.

Filing for Bankruptcy Chapter 7 Can Be Painless

In most instances, filing for bankruptcy Chapter 7 does not result in the loss of assets. Chapter 7 trustees review the debtor's assets to determine if any are non exempt which may be liquidated for the benefit of creditors. We only recommend Chapter 7 if it clear there is little or no risk to assets.  In such cases, the trustees declare the case to be “no-asset” and all assets are kept by the debtor. If you do need to file for bankruptcy, you should choose an experienced, well respected, and responsive law firm to help assure your assets are protected.

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Filing Bankruptcy Chapter 7 

How to File Bankruptcy Chapter 7 to Cover Your Debts

Filing for bankruptcy may not be a pleasant experience, but a necessary one. However, the process can be extremely confusing and should not be attempted without the help of an experienced, well respected, and responsive law firm such as Nahrgang & Associates, P.C., serving all of southeastern Pennsylvania.  We successfully strive to assure that all options, procedures, and possible outcomes are carefully explained so that the your are as comfortable as you can be throught the process. 

The Required Steps and Forms for Filing Chapter 7

Some of the required steps and forms for filing bankruptcy include:

  • Voluntary petition - name and address, with some statistics
  • Schedule A - real estate
  • Schedule B - all other assets
  • Schedule C - exempting assets
  • Schedule D - secured creditors such as mortgages and car loans
  • Schedule E - priority creditors such as recent tax debt
  • Schedule F - unsecured creditors such as credit cards, personal loans, and medical bills
  • Schedule G – leases
  • Schedule H - list of codebtors
  • Schedule I - current income 
  • Schedule J - current expenses
  • Statement of financial affairs - dicloses various financial facts such as historical income and prior addresses
  • Statement of current monthly income - helps determine if you are above or below median income and whether you pass the "means test" 

If you need help with your bankruptcy, talk to our knowledgeable attorneys today.

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Contact our office today to discuss your bankruptcy or family law questions. You can reach us by phone at 610-489-3041 or via e-mail. We will respond promptly to all phone calls and emails, within 24 hours.
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I have dealt with Matt for a few years for a couple of matters for myself and for my mother-in-law. Matt has always been a man of his word; anything he said he would do was done as expected. He provided timely and accurate advice when requested. Matt never pushed services that were not required and at certain times he recommended less costly services that would achieve the same results. I highly recommend him as very honest and ethical. He always disclosed fees in advance and there were never any "surprise" fees.— jimcar13
Mr Nahrgang was easy to work with, and did an excellent job with my case. Though my case turned out to be more complex than we had originally realized, he handled every complication promptly and competently.— eyedoc89
I was first recommended to Matthew Nahrgang by a friend. I was having serious financial issues at the time. I went to Matt and had a conversation which set my mind at ease. He is straight to the point, honest and tells you how it is. No frills kind of guy. He also is confident in his business and knows the law very well, which is what set me at ease. It was not near a big deal as I thought it to be. He does what he says he is going to do and does it in a timely manner. I have used Matt a few times now and I've recommend him to many of my friends and business acquaintances. I highly recommend Matthew Nahrgang!— my1leelee
In relation to my bankruptcy and in retrospect, I was thankful that I had discovered Mr. Nahrgang and had engaged him to respresent me in my case. I found him to be respectful, understanding, highly knowledgeable and trustworthy. I appreciate all that he did on my behalf and have recommended him to friends and family.— Orangefit09
Areas we serve
The Collegeville, Pennsylvania based law firm of Nahrgang & Associates, P.C. represents clients in the counties of Montgomery, Bucks, Delaware, Chester, Berks, Philadelphia, Lancaster, Northampton and Lehigh including the communities of Collegeville, Jenkintown, Doylestown, West Chester, Reading, Media, Allentown, Norristown, Phoenixville, Quakertown, Pottstown, Lansdale, Royersford, Plymouth Meeting, Exton, Conshohocken and King of Prussia, PA.
Our location
Nahrgang & Associates, P.C
35 Evansburg Road, Suite 3 Collegeville, PA 19426
Phone: 610-489-3041
Fax: 610-489-3042