If you are feeling overwhelmed by bills, payments, and creditors you might want to consider Chapter 7 bankruptcy. It can be a great way to start your financial life over again with your head above water.

Chapter 7 bankruptcy is the most common type of personal bankruptcy filed. Almost two thirds of all personal bankruptcies are of the Chapter 7 variety. This article will describe what Chapter 7 bankruptcy is and address some common questions you may have about filing.

Chapter 7 bankruptcy, also known as a straight bankruptcy, is a process where you sell your non-exempt property to help pay debts owed to creditors. It is a liquidation proceeding. Chapter 7 is a quick process that usually takes under 6 months to complete from the time an attorney helps you file. It is a provides the opportunity for a fresh start.

I addressed three frequently asked questions regarding Chapter 7 bankruptcy below

1. Will creditors leave me alone after I file for Chapter 7 bankruptcy? Yes, by law they must cease all actions against a debtor once the bankruptcy is filed. After you file, you are putting yourself in position for a fresh start.

2. Is everyone going to know I filed? Chapter 7 bankruptcy filings are public records. However, typically no one will know you went bankrupt unless you choose to tell them. There aren’t many publications that are printing the names of all people filing, and there are a lot of them.

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 are considering a Michigan bankruptcy, Chapter 7 might be a good thing to consider. You should speak with a Michigan bankruptcy attorney to get a better handle on your options.

Bankruptcy can be a good way to get out of debt. Often times, it can be more effective than debt consolidation. If you are searching for a Michigan bankruptcy chapter 7 lawyer, get a free consultation with Michigan bankruptcy chapter 7 attorneys Ardelean and Dunne.