Chapter 7

Chapter 7 Freedom from Excessive Debt

Imagine a life free from collections calls and from the constant worries about losing your home or car. It can happen. Contact a Maine Chapter 7 bankruptcy attorney.

If you are experiencing serious debt problems in Augusta, Portland, or Lewiston, Maine, contact me, attorney Jeffrey P. White, today. I have 25 years of experience in bankruptcy law and have helped countless people to financial freedom through Chapter 7 consumer bankruptcy. I know we can find a lasting solution to free you from your debt.

Chapter 7 Bankruptcy Basics

If you qualify under the means test for Chapter 7, our goal is to rid you of your debts without losing assets like your home, car, and boat. Sometimes, however, you may end up retaining some of your debt and perhaps losing some of your property items. But even in the worst-case scenario, you will have your unsecured debt discharged. To determine what you keep, the court will consider whether there is equity in your property, and if so, whether that property is protected by state exemptions.

State Exemptions - Keep Your Property

Many people don't file for Chapter 7 bankruptcy because they are concerned that they will lose the equity in their homes. They don't realize their property might fall under a state exemption which protects it from creditors:

  • Equity up to $47,500 for individuals
  • Equity up to $95,000 for couples, disabled individuals and parents with minor children
  • Motor vehicles up to $5,000 on any one motor vehicle
  • Retirement plans generally up to $1 million

There are other exemptions as well, including personal injury awards and the tools you need for your business or trade.

Find a Solution that Will Last - Portland Consumer Bankruptcy Lawyer

Many lawyers will look for the fastest, easiest solution. But this usually solves only the most immediate problems without giving you long-term results. I have 25 years of experience with bankruptcy law, including Chapter 13 and consumer Chapter 11, so I know the benefits and risks of the many debt relief options. I will use this experience to find solutions that will give you lifetime debt relief. Call my Auburn office, or contact my law firm online. I offer a free initial consultation for personal Chapter 7 bankruptcy clients.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.