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Chapter 7 Bankruptcy Attorney Anaheim CA

Do You Need a Chapter 7 Bankruptcy Attorney?

It’s time to consider bankruptcy in Anaheim CA, 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 Anaheim CA

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

Anaheim Bankruptcy Attorney, 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 Anaheim and the surrounding areas.

More About Hiring a Chapter 7 Bankruptcy Attorney in Anaheim CA

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 people talk about this subject, it is the bankruptcy as explained under chapter 7 of the code of the United States of America. Declare bankruptcy as per Chapter 7 of Bankruptcy Laws is a systematic procedure. Specifically, 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 therapy procedure from a federal government approved credit-counseling agency.

Finding an excellent and knowledgeable bankruptcy lawyer especially if you live in Anaheim or in a nearby city.

Means Test

Initially, you need to pass a Means test, where all your income and necessary expenses are evaluated. The means test includes subtracting the everyday important expenditure (the costs that you can not live without) from the overall earnings on a regular monthly basis. It is only if the output is less than the mean income of the state, you can file for bankruptcy under the Chapter 7 of US Bankruptcy Laws. However, in case, the output is more than the mean 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 essential for you to go through a credit therapy procedure. The purpose of introducing this action is to assess the actual monetary scenario of the debtor.

The credit therapy agency will look into the financial details of the debtor and will try to help the debtor manage their financial resources and get it back on track, in addition to paying the debts that the debtor owe to various creditors. If there is any possibility to get the financial resources of the debtor managed, the debtor will not be able to apply 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

chapter_7_bankruptcyThe debtor needs to file for bankruptcy under chapter 7 in the location where she or he is permanent local. If the debtor is running a service in a particular area, she or he should apply for bankruptcy in its primary place of business or principal possessions. Overall, the primary purpose of the chapter 7 bankruptcy laws is to help the debtor to get remedy for all the financial obligations that he or she presently owes. In this procedure, the bankruptcy court appoints a trustee, who even more proceeds with the procedure of liquidating all the assets and homes of the debtor.

The cash thus gathered is then used to settle the claims of the different creditors on priority basis, if any. The of chapter 7 bankruptcy laws provide an opportunity for the debtors to get a clean slate for their financial life, as the bankruptcy code relating to the same, liquidates all the properties and homes of the debtors after allowing the exemptions, in order to settle the claims of the creditors in a nearby region.

By doing this, the court brings the desired financial obligation relief for the debtor.

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