Chapter 7 Bankruptcy

Middletown Delaware Chapter 7 Bankruptcy Attorneys

Especially in trying financial times, the only feasible solution may be declaring bankruptcy. While there are several different types of bankruptcy, filing a Chapter 7 is the most common and most effective. The parameters of a Chapter 7 allow for most existing unsecured debt to be nullified. There are certain exceptions such as child support, certain student loans and tax debts. A well-timed bankruptcy gives our clients an opportunity to start over financially. At the law offices of Carucci Di Lorenzo, LLC, we have extensive experience in helping people with all aspects of Chapter 7 bankruptcy.

If you are in need of debt relief and are wondering what options you may have please contact the Delaware Bankruptcy Lawyers at Carucci Di Lorenzo, LLC, at 302-654-5083. You can also email a Wilmington Delaware Chapter 7 Bankruptcy Attorney here.

Is Chapter 7 the Best Option for You?

Delaware bankruptcy lawyers Matthew Carucci and Catherine Di Lorenzo assist people throughout Delaware with a wide range of bankruptcy and debt relief options. One of those is a Chapter 7 bankruptcy. A Chapter 7 is also commonly referred to as debt liquidation. In the liquidation process, a debtor is expected to turn over his or her assets to the bankruptcy trustee; however, in the vast majority of cases, an experienced attorney is able to apply a variety of exemptions to allow a debtor to keep all of his or her property and avoid having any of it sold. As soon as a bankruptcy is filed all creditors must cease contact with you and stop any and all debt collection attempts. These attempts include things like:

• Repossession
• Wage garnishment

In Delaware, the average liquidation process takes approximately 120 days to be completed. At this point all applicable debts are discharged and you are able to start over financially. Many people worry about the effect a bankruptcy will have on their credit score, but a conscientious person is typically able to rebuild his or her credit to a decent score within a few years after bankruptcy.

Who Qualifies for a Chapter 7?

Chapter 7 is an option for both individuals and businesses. In terms of a business declaring a Chapter 7, it is important to understand and remember that the business itself will be liquidated and will no longer be a going concern once the process is completed.

The attorneys at Carucci Di Lorenzo, LLC, have handled many Chapter 7 cases. In addition, they have experience in handling other types of bankruptcies such as Chapter 13 and Chapter 11. Delaware bankruptcy and debt relief lawyers Matthew Carucci and Catherine Di Lorenzo have the knowledge and know-how to properly handle your case.

A bankruptcy that is not managed properly can leave you back at square one with your debt and creditors; filing without a skilled attorney can sometimes do more harm than good. It makes sense to enlist the aid of a competent bankruptcy lawyer. Our goal is to offer our clients the best chance of getting out from under their debt as painlessly as possible.

Wilmington Debt Liquidation Lawyer

If you or your family is suffering from debt, the law offices of Carucci Di Lorenzo, LLC, can help. Please contact us today at 302-654-5083 to speak with a Delaware debt relief lawyer. Initial consultations are free for potential bankruptcy cases. You can also e-mail a New Castle County Delaware Chapter 7 Bankruptcy Law Office here.

Carucci Di Lorenzo, LLC, offers free initial consultations with the exception of domestic cases.