Do You Need a Chapter 7 Bankruptcy Attorney?
It’s time to consider bankruptcy in Bakersfield 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 Bakersfield 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
Bakersfield 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 Bakersfield 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 want to state them bankrupt. In fact, when people speak about this topic, it is the bankruptcy as described under chapter 7 of the code of the United States of America. Declare bankruptcy according to Chapter 7 of Bankruptcy Laws is an organized treatment. Particularly, after the introduction of the new laws in October 2005, now, it has actually become obligatory for you to pas a Means test and go through a credit counseling procedure from a federal government authorized credit-counseling company.
Finding an excellent and knowledgeable bankruptcy lawyer especially if you live in Bakersfield or in a nearby city.
First, you have to pass a Means test, where all your income and important expenditures are evaluated. The means test includes subtracting the day-to-day necessary expenditure (the expenses that you can not live without) from the overall income on a month-to-month basis. It is just if the output is less than the mean income 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 mean earnings of the state, the bankruptcy court will ask you to file under chapter 13 of the code.
Prior to you proceed and file under Chapter 7 Bankruptcy Laws, it is vital for you to go through a credit therapy treatment. The purpose of introducing this action is to evaluate the actual monetary situation of the debtor.
The credit counseling firm will look into the monetary details of the debtor and will try to help the debtor handle their finances and get it back on track, along with paying the debts that the debtor owe to various lenders. If there is any possibility to get the finances of the debtor handled, 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
The debtor should apply for bankruptcy under chapter 7 in the location where he or she is irreversible local. If the debtor is running a business in a particular area, she or he need to file for bankruptcy in its primary business or principal properties. In general, the primary function of the chapter 7 bankruptcy laws is to help the debtor to obtain relief from all the financial obligations that he or she presently owes. In this process, the bankruptcy court appoints a trustee, who further goes on with the treatment of liquidating all the properties and residential or commercial properties of the debtor.
The money hence gathered is then used to settle the claims of the various financial institutions on concern basis, if any. The of chapter 7 bankruptcy laws provide a chance for the debtors to obtain a new beginning for their financial life, as the bankruptcy code regarding the exact same, liquidates all the properties and residential or commercial properties of the debtors after allowing the exemptions, in order to settle the claims of the financial institutions in a nearby region.
By doing this, the court brings the wanted financial obligation relief for the debtor.
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