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Chapter 7 Bankruptcy Attorney Palm Springs CA

Do You Need a Chapter 7 Bankruptcy Attorney?

It’s time to consider bankruptcy in Palm Springs 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 Palm Springs 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

Palm Springs 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 Palm Springs and the surrounding areas.

More About Hiring a Chapter 7 Bankruptcy Attorney in Palm Springs 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 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 procedure. Especially, after the introduction of the new laws in October 2005, now, it has actually become compulsory for you to pas a Means test and go through a credit therapy process from a federal government authorized credit-counseling company.

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

Means Test

Initially, you need to pass a Means test, where all your earnings and necessary expenditures are evaluated. The means test involves deducting the everyday vital expenditure (the costs that you can not live without) from the total income on a regular monthly basis. It is just if the output is less than the mean earnings of the state, you can declare bankruptcy under the Chapter 7 of US Bankruptcy Laws. However, 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 ahead and file under Chapter 7 Bankruptcy Laws, it is important for you to go through a credit therapy procedure. The purpose of presenting this action is to evaluate the real financial situation of the debtor.

The credit counseling company will check out the financial details of the debtor and will aim to help 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 financial resources 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 must declare bankruptcy under chapter 7 in the location where she or he is permanent homeowner. If the debtor is running a service in a specific location, she or he must declare bankruptcy in its primary workplace or primary properties. Overall, the main purpose of the chapter 7 bankruptcy laws is to help the debtor to obtain relief from all the debts that he or she presently owes. In this procedure, the bankruptcy court selects a trustee, who further goes ahead with the treatment of liquidating all the possessions and residential or commercial properties of the debtor.

The cash thus collected is then utilized to settle the claims of the different creditors on concern basis, if any. The of chapter 7 bankruptcy laws offer an opportunity for the debtors to get a clean slate for their monetary life, as the bankruptcy code regarding the very same, liquidates all the possessions and homes of the debtors after allowing the exemptions, in order to settle the claims of the creditors in a nearby region.

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

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