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Chapter 7 Bankruptcy Attorney Fresno CA

Do You Need a Chapter 7 Bankruptcy Attorney?

It’s time to consider bankruptcy in Fresno 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 Fresno 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

Fresno 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 Fresno and the surrounding areas.

More About Hiring a Chapter 7 Bankruptcy Attorney in Fresno 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 option for people who want to declare them insolvent. In fact, when people speak about this topic, it is the bankruptcy as explained under chapter 7 of the code of the United States of America. Filing for bankruptcy as per Chapter 7 of Bankruptcy Laws is an organized procedure. Specifically, 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 therapy process from a federal government approved credit-counseling firm.

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

Means Test

First, you need to pass a Means test, where all your income and important expenses are evaluated. The means test includes deducting the everyday important expense (the expenses that you can not live without) from the total income on a month-to-month basis. It is only if the output is less than the mean income of the state, you can declare bankruptcy under the Chapter 7 of US Bankruptcy Laws. Nevertheless, in case, the output is more than the typical income of the state, the bankruptcy court will ask you to file under chapter 13 of the code.

Credit Counseling

Before you go on and file under Chapter 7 Bankruptcy Laws, it is necessary for you to go through a credit therapy procedure. The purpose of presenting this action is to assess the real monetary circumstance of the debtor.

The credit counseling company will look into the monetary information 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 financial obligations that the debtor owe to various financial institutions. If there is any possibility to obtain the finances of the debtor managed, 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

chapter_7_bankruptcyThe debtor must declare bankruptcy under chapter 7 in the location where she or he is long-term homeowner. If the debtor is running a service in a specific area, she or he must apply for bankruptcy in its principal business or principal properties. In general, the main purpose of the chapter 7 bankruptcy laws is to assist the debtor to obtain relief from all the financial obligations that she or he currently owes. In this process, the bankruptcy court appoints a trustee, who further goes ahead with the treatment of liquidating all the assets and residential or commercial properties of the debtor.

The cash therefore gathered is then used to settle the claims of the different financial institutions on concern basis, if any. The of chapter 7 bankruptcy laws provide an opportunity for the debtors to get a fresh start for their monetary life, as the bankruptcy code relating to the exact same, liquidates all the possessions 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.

This way, the court brings the preferred financial obligation relief for the debtor.

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