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Chapter 7 Bankruptcy Attorney Huntington Beach CA

Do You Need a Chapter 7 Bankruptcy Attorney?

It’s time to consider bankruptcy in Huntington Beach 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 Huntington Beach 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

Huntington Beach 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 Huntington Beach and the surrounding areas.

More About Hiring a Chapter 7 Bankruptcy Attorney in Huntington Beach 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 individuals who want to state them bankrupt. In fact, when individuals discuss this topic, it is the bankruptcy as described under chapter 7 of the code of the United States of America. Declare bankruptcy based on Chapter 7 of Bankruptcy Laws is a systematic treatment. Particularly, after the intro of the new laws in October 2005, now, it has actually become mandatory for you to pas a Means test and go through a credit therapy procedure from a government authorized credit-counseling firm.

Finding an excellent and knowledgeable bankruptcy attorney especially if you live in Huntington Beach or in a nearby city.

Means Test

Initially, you need to pass a Means test, where all your income and vital expenses are examined. The means test involves subtracting the everyday vital expense (the expenditures that you can not live without) from the total income on a monthly basis. It is only if the output is less than the median income of the state, you can file 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 on and file under Chapter 7 Bankruptcy Laws, it is essential for you to go through a credit counseling treatment. The purpose of introducing this action is to assess the real monetary scenario of the debtor.

The credit therapy agency will look into the monetary information of the debtor and will aim to assist the debtor handle their finances and get it back on track, together with paying the financial obligations that the debtor owe to different lenders. If there is any possibility to obtain the finances of the debtor handled, the debtor will not have the ability to declare 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 file for bankruptcy under chapter 7 in the area where he or she is permanent resident. If the debtor is running a service in a particular location, she or he need to apply for bankruptcy in its principal workplace or primary assets. Overall, the main function of the chapter 7 bankruptcy laws is to assist the debtor to obtain remedy for all the debts that she or he presently owes. In this procedure, the bankruptcy court designates a trustee, who even more goes ahead with the procedure of liquidating all the possessions and properties of the debtor.

The money thus gathered is then utilized to settle the claims of the different creditors on top priority basis, if any. The of chapter 7 bankruptcy laws use a chance for the debtors to obtain a clean slate for their financial life, as the bankruptcy code concerning the exact same, liquidates all the assets and residential or commercial properties of the debtors after enabling the exemptions, in order to settle the claims of the creditors in a nearby region.

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

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