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Chapter 7 Bankruptcy Attorney Lancaster CA

Do You Need a Chapter 7 Bankruptcy Attorney?

It’s time to consider bankruptcy in Lancaster 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 Lancaster 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

Lancaster 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 Lancaster and the surrounding areas.

More About Hiring a Chapter 7 Bankruptcy Attorney in Lancaster 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 want to state them insolvent. In fact, when individuals discuss this topic, it is the bankruptcy as explained 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. Specifically, after the intro of the new laws in October 2005, now, it has ended up being compulsory for you to pas a Means test and go through a credit therapy process from a government authorized credit-counseling company.

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

Means Test

First, you need to pass a Means test, where all your earnings and important expenses are evaluated. The means test involves deducting the daily vital expenditure (the expenses that you can not live without) from the total income on a monthly basis. It is just if the output is less than the typical 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 median earnings of the state, the bankruptcy court will ask you to file under chapter 13 of the code.

Credit Counseling

Prior to you proceed and file under Chapter 7 Bankruptcy Laws, it is essential for you to go through a credit counseling procedure. The purpose of introducing this step is to evaluate the actual financial scenario of the debtor.

The credit counseling agency will look into the monetary information of the debtor and will aim to assist the debtor manage their financial resources and get it back on track, together with paying the financial obligations that the debtor owe to various financial institutions. If there is any possibility to get the financial resources 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 should file for bankruptcy under chapter 7 in the area where she or he is irreversible citizen. If the debtor is running a service in a specific area, she or he must apply for bankruptcy in its primary place of business or principal properties. Overall, the main purpose of the chapter 7 bankruptcy laws is to assist the debtor to get relief from all the debts that she or he currently 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 collected is then used to settle the claims of the numerous financial institutions on concern basis, if any. The of chapter 7 bankruptcy laws use an opportunity for the debtors to obtain a clean slate for their monetary life, as the bankruptcy code regarding the same, liquidates all the properties and homes of the debtors after enabling the exemptions, in order to settle the claims of the lenders in a nearby region.

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

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