Do You Need a Chapter 7 Bankruptcy Attorney?
It’s time to consider bankruptcy in Victorville 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 Victorville 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
Victorville 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 Victorville 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 people who wish to declare them bankrupt. In fact, when people discuss this subject, 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 methodical procedure. Especially, after the intro of the new laws in October 2005, now, it has ended up being obligatory for you to pas a Means test and go through a credit therapy procedure from a federal government approved credit-counseling company.
Finding an excellent and knowledgeable bankruptcy lawyer especially if you live in Victorville or in a nearby city.
Initially, you need to pass a Means test, where all your income and important expenses are evaluated. The means test involves deducting the daily essential expenditure (the expenses that you can not live without) from the overall earnings on a monthly basis. It is only if the output is less than the average income of the state, you can apply for bankruptcy under the Chapter 7 of US Bankruptcy Laws. However, 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 necessary for you to go through a credit therapy procedure. The function of introducing this step is to assess the real financial circumstance of the debtor.
The credit counseling company will check out the monetary information of the debtor and will aim to help the debtor manage their finances and get it back on track, in addition to paying the debts that the debtor owe to various financial institutions. If there is any possibility to obtain the finances of the debtor handled, 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 must declare bankruptcy under chapter 7 in the location where he or she is long-term citizen. If the debtor is running a company in a specific area, she or he need to declare bankruptcy in its primary business or principal assets. Overall, the primary purpose of the chapter 7 bankruptcy laws is to assist the debtor to obtain remedy for all the debts that she or he currently owes. In this procedure, the bankruptcy court selects a trustee, who even more goes on with the procedure of liquidating all the possessions and residential or commercial properties of the debtor.
The cash therefore gathered is then utilized to settle the claims of the various financial institutions on priority basis, if any. The of chapter 7 bankruptcy laws use an opportunity for the debtors to obtain a fresh start for their financial life, as the bankruptcy code relating to the same, liquidates all the properties and residential or commercial properties of the debtors after allowing the exemptions, in order to settle the claims of the lenders in a nearby region.
In this manner, the court brings the preferred debt relief for the debtor.
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