Feeling the weight of the world with more and more bills to pay can be daunting. Chapter 7 bankruptcy is a good way to get a fresh start.

Nearly 2/3 of all personal bankruptcy filings are Chapter 7. This makes it the most common type of bankruptcy. What I will do is define for you exactly what Chapter 7 bankruptcy is and answer 3 of the most common questions asked about it.

Chapter 7 bankruptcy is also known as liquidation. In Chapter 7, you sell your property which is non-exempt, in an effort to help pay off people you owe money to. It’s a relatively quick process that often times is completed in just a few months.

I addressed three frequently asked questions regarding Chapter 7 bankruptcy below

1. Will I be harassed by people I owe money to after I file for bankruptcy? The answer is no. In fact, by law your creditors must cease all actions against you once you file. Filing for bankruptcy is a way to settle with your creditors and start over.

2. Will everyone I know find out I went bankrupt? Your bankruptcy filing is a matter of public record. That being said, there is not a strong likelihood that anyone is going to find out unless you tell them. There are so many bankruptcy filings that it isn’t something that typically is publicized.

3. I feel ashamed I’m filing for bankruptcy. Why do most people file? Filing for bankruptcy is nothing to feel ashamed about. In fact the most common reasons for filing include medical expenses, divorce, job loss and other unexpected and unplanned events.

If you think Chapter 7 bankruptcy might be a fit for you the next step is to consult with a bankruptcy attorney.

Bankruptcy can be a good way to get out of debt. Often times, it can be more effective than debt consolidation. Debt consolidation relies on hopes that creditors will join in. If you are searching for a Michigan bankruptcy chapter 7 lawyer, get a free consultation with Michigan bankruptcy chapter 7 lawyers Ardelean and Dunne.