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Chapter 7 Bankruptcy

Your path to financial freedom starts here. Get in touch with the experienced bankruptcy attorneys at the Law Offices of Blake Goodman today to explore your options.

Maui Chapter 7 Bankruptcy Attorneys

We Can Help You Tackle Burdensome Debt

If you can’t keep up with your credit card payments and loans, then filing Chapter 7 bankruptcy might give you a chance to obtain relief from your debts. Chapter 7 bankruptcy is one of the best options for people who have limited income. However, if your disposable income is greater than the minimum amount allowed under Chapter 7, then our friendly legal professionals at the Law Offices of Blake Goodman PC can explore a Chapter 13 bankruptcy option with you as well.

Chapter 13 bankruptcy discharges most of your unsecured debt, including credit card debt, medical bills, and even personal loans. Most of the bankruptcy cases on Maui are filed under Chapter 7. Perhaps the most encouraging aspect of filing for Chapter 13 is that your debts will be discharged in a matter of months.

What Is the Means Test?

To qualify for the Chapter 7 filing, you will first need to pass a means test. This test examines your financial records, including your:

  • Monthly income
  • Regular expenses
  • Secured debts
  • Unsecured debts

The means test requires you to complete a 9-page form that asks for several documents related to your finances. The main focus of the test is to determine whether you have enough disposable income to repay your debts. The disposable income is the amount that you have left after covering your living costs. You can only file Chapter 7 bankruptcy if you don’t have enough income to pay back a minimum amount of 25% of your unsecured debt.

What Are the Advantages of Filing Chapter 7 Bankruptcy on Maui?

Deciding whether or not to file Chapter 7 bankruptcy is a big decision that shouldn’t be taken lightly. Here are some advantages of Chapter 7 that will help you to have a better understanding:

  • It prevents lenders or creditors from taking aggressive and forceful action to collect the debt
  • It stops lawsuits, foreclosures, and car repossessions
  • It forces you to become more disciplined with your debt habits
  • It can permanently protect your property, bank accounts, and wages.

When you choose Chapter 7 bankruptcy, your attorney files for you. You will only have to appear at one mandatory meeting. After that, there are usually no further hearings and your case will be over in a few short months.

Can I Discharge All My Debt in Chapter 7?

Generally, debts like recent taxes, alimony, child support, and student loans won’t be forgiven under Chapter 7 bankruptcy. In most cases, individuals eventually have to pay these types of debts.

Bankruptcy Myths

Deciding to file for bankruptcy can be a dilemma for many people. And to make the experience worse, people often encounter common myths about filing Chapter 7 bankruptcy that simply aren't true:

Myth #1: You Will Lose Everything

This couldn’t be further from the truth. The no-asset rule states that the debtor won’t have to give up any of their possessions as long as the value or equity in their property falls below the allowable exemptions. Exemptions allow the person to retain the primary assets they need for day-to-day life and to restart their finances after their debts are discharged.

Myth #2: Filing for Bankruptcy Means You’re a Failure

No, you don’t have to think that if you are filing for bankruptcy it means you have some character flaw. It is a financial remedy that is designed to account for unforeseen events in your life. These conditions are unpredictable, and hence no one is to blame. You will find it shocking that more than half of the bankruptcy cases in the United States are due to overdue medical bills.

Myth #3: Filing Bankruptcy Ruins Your Financial Future

Although Chapter 7 bankruptcy will remain on your credit report for 10 years, this does not mean in the slightest that you will not be able to obtain new debts during this period We offer a free service to our bankruptcy clients called “720 Credit Rebuild Program.” We help you rebuild your credit to a high score after you have filed. If you follow our steps, we can return you to a sound credit profile within a year or two.

Contact Our Team Today

If you’re in need of a Chapter 7 Bankruptcy attorney in Maui, then please give us a call at (808) 518-4844. We are ready to help you explore how filing a Chapter 7 bankruptcy may work for you. Schedule your free case consultation today.

If You Have Questions,
We Have Answers

Bankruptcy can be difficult to navigate, but our team is ready to help guide you. Read our frequently asked questions or reach out to us directly to schedule a free consultation for more information.

We Get Results

Reviews & Endorsements
  • “Blake Goodman provided professional and outstanding legal advice.”

    - Moune Romano
  • “They worked with me every step of the way.”

    - Randi Brown
  • “You and your staff consistently made extra efforts in assisting me with my bankruptcy case.”

    - Phetsamone Vuong
  • “His hard work, diligence, meticulous attention to detail, and dedication to his practice reflect great credit upon himself, his practice, his staff, and the law profession in the State of Hawaii.”

    - Ben Pascua
  • “I’m very grateful to Mr. Goodman for the effort and patience he had with me and my daughter. I appreciate it. As for his staff members, they are very kind.”

    - Martha Aki
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Hawaii's Largest Bankruptcy Filers Get the Fresh Start You Deserve

Embarking on your journey to financial freedom is easy! Reach out to our team today by giving our office a call or filling out the online form.