CHAPTER 7 BANKRUPTCY
Bankruptcy Chapter 7 Jewelry Repossession

Chapter 7 Bankruptcy Attorney
Proudly Serving Buffalo, Cheektowaga, NY & Beyond

Chapter 7 bankruptcy is also known as “liquidation bankruptcy.” In most cases, you are allowed to keep your home, your car, and most of your belongings. These items are protected by your “exemptions” under state law and the bankruptcy code.


Chapter 7 bankruptcy will eliminate credit card debt, personal loans, medical bills, and deficiency balances on repossessed or surrendered vehicles. If you are facing Chapter 7 bankruptcy in Buffalo, Cheektowaga, NY or a surrounding area, trust the bankruptcy attorney at the Law Office of Wendy J Christophersen for assistance. Get in touch today to schedule a free consultation.

Exempt property typically includes the following:

• Primary motor vehicle up to a certain value

• Necessary household goods, appliances, furnishings, and clothing

• Jewelry, up to a certain value

• Pensions, IRAs, 401(k), 403(b) and other retirement savings

• Equity in your home up to a certain value

• Cash, bank accounts and tax refunds up to a certain value


Keep in mind this is a generalized list, and each state has its own set of exemptions. Most people keep all or most of their property, unless they have assets with significant equity that are not exempt by law. Wendy Christophersen will fully explain the laws to you and answer all of your questions about Chapter 7 bankruptcy.

Do I qualify for Chapter 7 Bankruptcy?

In order to qualify for Chapter 7 bankruptcy, you must have little to no disposable income, and your average monthly income must be below the median income for a family your size in the State of New York.


Reasons to File for Chapter 7 Bankruptcy

• Stop harassing phone calls from creditors

• Erase credit card debt, medical bills, personal loans and deficiency balances on repossessed or surrendered vehicles

• Stop wage garnishments and bank account restraints

• Obtain a fresh start

• Improve your credit score (in most cases)

Call (716) 852-7373 if you have any questions or concerns or to schedule a free consultation with Wendy J. Christophersen. 

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