Have a Question? Call Us: (855) 997-4655

     

Chapter 7 Bankruptcy Attorney Irvine CA

Do You Need a Chapter 7 Bankruptcy Attorney?

It’s time to consider bankruptcy in Irvine 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 Irvine 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

Irvine 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 Irvine and the surrounding areas.

More About Hiring a Chapter 7 Bankruptcy Attorney in Irvine 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 alternative for people who want to state them bankrupt. In fact, when people discuss this subject, it is the bankruptcy as explained under chapter 7 of the code of the United States of America. Filing for bankruptcy according to Chapter 7 of Bankruptcy Laws is a methodical treatment. Specifically, after the introduction of the brand-new laws in October 2005, now, it has become compulsory for you to pas a Means test and go through a credit therapy procedure from a government approved credit-counseling firm.

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

Means Test

Initially, you need to pass a Means test, where all your earnings and important expenses are evaluated. The means test involves subtracting the everyday vital expense (the costs that you can not live without) from the overall earnings on a monthly basis. It is only if the output is less than the mean 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 mean earnings of the state, the bankruptcy court will ask you to file under chapter 13 of the code.

Credit Counseling

Prior to you go on and file under Chapter 7 Bankruptcy Laws, it is necessary for you to go through a credit counseling treatment. The function of presenting this step is to evaluate the actual monetary situation of the debtor.

The credit counseling company will look into the financial information of the debtor and will try to help the debtor manage their financial resources and get it back on track, along with paying the debts that the debtor owe to different creditors. If there is any possibility to get the finances of the debtor managed, the debtor will not be able 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 should declare bankruptcy under chapter 7 in the area where he or she is permanent local. If the debtor is running a company in a specific area, she or he ought to declare bankruptcy in its primary business or principal properties. Overall, the main purpose of the chapter 7 bankruptcy laws is to help the debtor to get remedy for all the debts that he or she currently owes. In this procedure, the bankruptcy court selects a trustee, who even more goes ahead with the treatment of liquidating all the possessions and homes of the debtor.

The money hence gathered is then utilized to settle the claims of the numerous 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 exact same, liquidates all the possessions and homes of the debtors after permitting the exemptions, in order to settle the claims of the financial institutions in a nearby region.

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

Learn More About Irvine CA

Find Us on Maps

Office Hours

Monday - Friday: 9:00am -9:00pm

Saturday: 10:00am - 9:00pm

Sunday: Closed

Bankruptcy Services We Offer

© 2020 The Bankruptcy Experts - All Rights Reserved