New Haven Connecticut Chapter 7 Bankruptcy Attorney

For many people, credit card debts have become overwhelming.  After a credit card bill has not been paid for a period of time, credit card companies will sell or assign delinquent accounts to collection agencies.  When these accounts are sold to these agencies, the amounts due, as well as the interest rates, may increase.  For many people, credit card bills make up the majority of their debt.  When debt becomes overwhelming, filing for bankruptcy may be an option, as credit cards may be discharged, and the debtors receive a fresh start, free from these debts.

For others, it may be medical debts, bank loans, payday loans or gambling debts.  All of the debts and more, even judgments, may be discharged by filing for Chapter 7 bankruptcy.

Under the new bankruptcy laws. an individual will need to undergo a “means test” to determine whether he or she qualifies for Chapter 7 bankruptcy.  The means test will consider a family’s monthly gross income in comparison to the state median income.  If an individual is eligible for Chapter 7 bankruptcy, his or her unsecured debts may be discharged.  If a person is not eligible, then filing for Chapter 13 bankruptcy may be another option.