Many individuals look at bankruptcy as financial ruin. James I Lowenstein, Attorney at Law
in Fair Lawn, New Jersey, looks at both Chapter 7 bankruptcy as a means for a financial fresh start.
In short, Chapter 7 bankruptcy is a liquidations bankruptcy. It's used to eliminate most types of unsecured debt such as medical bills, credit cards, utility bills, and lawsuits so you can get back on your feet it prevents creditors from attempting to collect from you and contacting you.