Christopher J Kane, a leading attorney in Portland, Oregon, has launched a new report focusing on the most common form of bankruptcy. Called Chapter 7, the report goes into what makes a simple Chapter 7 case, and highlights how Christoper J Kane can offer a free fresh start consultation for clients.
More information can be found at: https://ckanelaw.com/what-makes-a-simple-chapter-7-case
The report explains that Chapter 7 is the most common form of bankruptcy, with consumers filing significantly more bankruptcy cases than Chapter 13 ones. In 2016 alone, out of 800,000 bankruptcies, about 490,000 were Chapter 7s.
A simple Chapter 7 case protects the party from all collections, discharges all of their debts, and lets them keep or surrender collateral, and lets them keep all their other assets.
The first key aspect of the case is immediate protection. The automatic stay stops all collection efforts at the filing of the initial Chapter 7 case, and this includes just about any method of collecting a debt.
When a Chapter 7 case is filed in this way, if a creditor continues its collection efforts or starts a new collection action, it can be punished for doing so.
In addition to this, the report highlights how the case allows the concerned party to discharge their debts. Most debts are written off in this way, although there are exceptions.
The bankrupt party will get the opportunity to either surrender the collateral on a secured debt, or keep it by paying for it. In most cases they can keep all their assets.
Christoper J Kane states: Ive represented thousands of individuals and small businesses in both state and federal courts, and in many areas of the law. These include Social Security disability law, landlord/tenant relations, employment law, consumer protection law, estate planning, business entity formation and consulting, and bankruptcy.
Full details of the new report and the services offered by Christopher J Kane in Portland can be found on the URL above.
For more information, visit: http://ckanelaw.com