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When you are struggling with debt, you’re not living life well. You’re stressed, may be depressed or could feel anxious. You worry about answering the phone and checking your mail because there could be a collections agency calling, a new bill or a late notice.

You don’t have to live that way. In fact, the government has options for bankruptcy to help people who are in situations like yours. When you can’t get ahead, you may need a helping hand, and there is nothing wrong with that. Chapter 7 bankruptcy could help.

Who is eligible for Chapter 7 bankruptcy?

To qualify for Chapter 7 bankruptcy, you’ll need to go through credit counseling. You will also need to show that you meet the financial requirements of the bankruptcy. People who earn too much to qualify for a Chapter 7 bankruptcy may qualify for other forms, such as Chapter 13.

How does a bankruptcy work?

Chapter 7 bankruptcy starts when you file paperwork with the bankruptcy court. You’ll need to give a list of the things you own (assets) and your liabilities. You will also need to show current expenditures as well as your current income. A statement of your financial affairs needs to be included with the application, as does any kind of information on executory contracts or leases that have not yet expired.

Getting all of this together might seem confusing or complex. If you are ready to file for bankruptcy, our website has more information about the documents you need and what you can do to start on the right path to eliminating your debts. You don’t deserve to feel like you’re overwhelmed by debt when there are options that could help.