Do You Need a Chapter 7 Bankruptcy Attorney?
It’s time to consider bankruptcy in San Diego 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 San Diego 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
San Diego 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 San Diego and the surrounding areas.
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 individuals who wish to state them bankrupt. In fact, when individuals talk about this topic, it is the bankruptcy as described under chapter 7 of the code of the United States of America. Filing for bankruptcy based on Chapter 7 of Bankruptcy Laws is a systematic procedure. Especially, after the introduction of the brand-new laws in October 2005, now, it has become obligatory for you to pas a Means test and go through a credit counseling procedure from a federal government approved credit-counseling agency.
Finding an excellent and knowledgeable bankruptcy attorney especially if you live in San Diego or in a nearby city.
Initially, you have to pass a Means test, where all your income and necessary expenditures are assessed. The means test involves subtracting the daily vital expenditure (the costs that you can not live without) from the overall income on a month-to-month basis. It is just 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 median income of the state, the bankruptcy court will ask you to file under chapter 13 of the code.
Before you go ahead and file under Chapter 7 Bankruptcy Laws, it is vital for you to go through a credit counseling treatment. The function of introducing this step is to evaluate the real financial situation of the debtor.
The credit counseling agency will check out the monetary details of the debtor and will aim to assist the debtor manage their finances and get it back on track, in addition to paying the debts that the debtor owe to different creditors. If there is any possibility to get the financial resources of the debtor managed, the debtor will not be able to apply 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
The debtor needs to apply for bankruptcy under chapter 7 in the location where she or he is irreversible homeowner. If the debtor is running a company in a particular location, she or he must declare bankruptcy in its principal place of business or primary properties. In general, the main purpose of the chapter 7 bankruptcy laws is to help the debtor to get remedy for all the debts that she or he presently owes. In this procedure, the bankruptcy court appoints a trustee, who even more goes on with the procedure of liquidating all the properties and homes of the debtor.
The cash thus gathered is then used to settle the claims of the numerous lenders on top priority basis, if any. The of chapter 7 bankruptcy laws provide a chance for the debtors to get a clean slate for their monetary life, as the bankruptcy code concerning the same, liquidates all the assets and properties of the debtors after permitting the exemptions, in order to settle the claims of the financial institutions in a nearby region.
In this manner, the court brings the preferred debt relief for the debtor.
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