Do You Need a California Chapter 7 Bankruptcy Attorney?
It’s time to consider bankruptcy if your life has been taken over by looming foreclosure, constant badgering phone calls from creditors, lawsuits or garnishments of your wages or property. Or maybe your debt has you trapped due to the amount of each payment and the extent of the debt. There are many kinds of debt that can get you into these situations, including medical bills, credit card balances, falling behind on your mortgage, loans and back taxes owed to the government and even car repossessions.
Chapter 7 Bankruptcy Lawyers Near Me in California
Experienced, professional bankruptcy attorneys understand the difficulties and worries you face. We know your best options. We are here to help and will work with you to alleviate your financial uncertainty. Even before your bankruptcy petition is filed, an attorney can help shield you from creditor harassment. In a non-judgmental and supportive way, we can help you understand your options, the process of filing for bankruptcy, and help lift the burden of financial uncertainty.
Free Bankruptcy Consultation – Call Now (855) 997-4655
California Bankruptcy Attorneys, The Bankruptcy Experts, are dedicated BK Lawyers with over 10 years experience in dealing with the complex issues concerning bankruptcy. We have the skills and expertise to handle any type of bankruptcy problems you might be experiencing. We proudly offer our services to businesses and individuals throughout California and the surrounding areas.
You may feel hopeless, and at the mercy of a faltering economy, but don’t despair. Relief is available, and there is no shame in using the law to protect yourself when you are buried under a pile of debt. You aren’t responsible for the economy, and you didn’t create the mortgage crisis. So use the law to protect yourself and your family.
A Second Chance
Bankruptcy laws are in place to help Americans get a second chance when they are snowed under by economic pressures. You have rights, including the right to be free from harassment by creditors. If your creditors are hounding you, you can make them pay. And if your debt has become more than you can manage, you may be able to file for bankruptcy.
The Chapter 7 Bankruptcy Laws are the most common choice for people who wish to declare them insolvent. In fact, when individuals discuss this subject, it is the bankruptcy as described under chapter 7 of the code of the United States of America. Filing for bankruptcy as per Chapter 7 of Bankruptcy Laws is a methodical procedure. Particularly, after the introduction of the brand-new laws in October 2005, now, it has ended up being necessary for you to pas a Means test and go through a credit counseling process from a government approved credit-counseling company.
Finding an excellent and knowledgeable bankruptcy lawyer especially if you live in California or in a nearby county Means Test Initially, you need to pass a Means test, where all your income and essential expenditures are assessed. The means test includes deducting the daily vital expense (the expenses that you can not live without) from the overall income on a regular monthly basis. It is only if the output is less than the typical earnings of the state, you can apply for bankruptcy under the Chapter 7 of US Bankruptcy Laws. Nevertheless, in case, the output is more than the median income of the state, the bankruptcy court will ask you to file under chapter 13 of the code.
Credit Counseling Before you go ahead and file under Chapter 7 Bankruptcy Laws, it is vital for you to go through a credit therapy treatment. The purpose of introducing this step is to assess the real monetary situation of the debtor. The credit therapy agency will look into the financial information of the debtor and will try to assist the debtor manage their finances and get it back on track, along with paying the debts that the debtor owe to different lenders. If there is any possibility to obtain the finances of the debtor handled, the debtor will not be able to file for bankruptcy under Chapter 7. In such case, the court will ask the debtor to file under chapter 13 bankruptcy. When To File Bankruptcy Under The Chapter 7 Bankruptcy Laws The debtor should file for bankruptcy under chapter 7 in the location where he or she is long-term citizen. If the debtor is running a business in a specific location, she or he ought to declare bankruptcy in its primary business or principal assets. Overall, the primary purpose of the chapter 7 bankruptcy laws is to assist the debtor to obtain relief from all the financial obligations that he or she currently owes.
In this process, the bankruptcy court appoints a trustee, who even more goes on with the procedure of liquidating all the properties and properties of the debtor. The money thus collected is then used to settle the claims of the various lenders on concern basis, if any. The of chapter 7 bankruptcy laws use a chance for the debtors to obtain a fresh start for their financial life, as the bankruptcy code regarding the same, liquidates all the possessions and homes of the debtors after allowing the exemptions, in order to settle the claims of the creditors throughout the region In this manner, the court brings the desired financial obligation relief for the debtor.
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