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Chapter 7 Bankruptcy Attorney San Jose CA

Do You Need a Chapter 7 Bankruptcy Attorney?

It’s time to consider bankruptcy in San Jose 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 Jose 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 Jose 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 Jose and the surrounding areas.

More About Hiring a Chapter 7 Bankruptcy Attorney in San Jose 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 typical choice for people who wish to state them bankrupt. In fact, when people talk about 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 procedure. Especially, after the intro of the new laws in October 2005, now, it has actually become necessary for you to pas a Means test and go through a credit counseling procedure from a government approved credit-counseling agency.

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

Means Test

Initially, you need to pass a Means test, where all your income and vital expenses are evaluated. The means test involves subtracting the day-to-day necessary expense (the costs that you can not live without) from the overall income on a month-to-month basis. It is only if the output is less than the mean income 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 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 therapy treatment. The purpose of introducing this action is to examine the real monetary circumstance of the debtor.

The credit therapy agency will look into the financial details of the debtor and will aim to help the debtor manage their finances and get it back on track, together with paying the financial obligations that the debtor owe to numerous creditors. If there is any possibility to obtain the finances 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

chapter_7_bankruptcyThe debtor needs to declare bankruptcy under chapter 7 in the location where she or he is irreversible homeowner. If the debtor is running a business in a specific location, he or she need to declare bankruptcy in its principal business or primary properties. Overall, the primary function of the chapter 7 bankruptcy laws is to assist the debtor to obtain relief from all the financial obligations that she or he presently owes. In this procedure, the bankruptcy court selects a trustee, who further goes ahead with the treatment of liquidating all the assets and homes of the debtor.

The cash therefore collected is then used to settle the claims of the numerous financial institutions on priority basis, if any. The of chapter 7 bankruptcy laws provide a chance for the debtors to get a clean slate for their financial life, as the bankruptcy code regarding the very same, liquidates all the possessions and homes of the debtors after enabling the exemptions, in order to settle the claims of the creditors in a nearby region.

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

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