Chapter 7 Bankruptcy in Martinsburg

What is Chapter 7 Bankruptcy and is it best for you? Let us guide you to the best course of action.

what is chapter 7Chapter 7 Bankruptcy is the most common type of bankruptcy filed. It makes up a large percentage of the bankruptcy cases that Hinkle Law files in West Virginia. Approximately 1 million people file for Chapter 7 bankruptcy protection each year.

Many people ask, “What is Chapter 7?” As you have read, it is quite common and you may know it by a different name. Chapter 7 Bankruptcy is typically called “liquidation” or “total” bankruptcy but these names are misleading.

In almost all cases, consumers will get to keep their assets and property including:

  • houses
  • cars
  • other specified property

The purpose of bankruptcy law is to give you a fresh start. If you had to sell all of your assets in order to get out debt, it would make it very difficult for you to get a fresh start.

The amount of assets that you can protect varies from state to state so you definitely need to get advice from a qualified lawyer such as David Hinkle.

In general, if you meet the income qualifications, you will not be required to pay back any of your unsecured debts in a Chapter 7 Bankruptcy. Unsecured debts most commonly include credit cards and medical bills. However, they can also include payday loans, signature loans, overdraft lines of credit, and personal loans.

According to recent studies, what is found is that the most common cause of Chapter 7 Bankruptcy is medical debt. The rising costs of medical care have caused many consumers to fall behind on their medical bills or caused them to use credit cards to pay for medical and prescription costs.

The job market has left many people without health care coverage. For those without insurance, a car accident and a trip to the emergency room can equal tens of thousands of dollars in medical bills. Additionally, those with health care coverage have seen a decrease in coverage and an increase in deductibles.

After being suffocated by rising debt, you may ask, “what is my option now?” Chapter 7 Bankruptcy is an option and can be an extremely useful tool in getting back on the right financial path. Give us a call today at

(304) 596-2423 and let us help you get back on your feet.