Chapter 7 Bankruptcy
Financial troubles can take a drastic toll on the overall health and stability of your family. People are often forced into situations where they must sacrifice one bill to pay another or to simply have enough money to buy groceries for the month. When you reach this level of desperation, it is time to consult with a skilled bankruptcy attorney.
The Bankruptcy Code was developed to give honest, hardworking Americans a fresh financial start, but as a skilled and experienced bankruptcy attorney, I understand that there is still a social stigma attached to filing for bankruptcy. I want my clients to understand that there is nothing wrong with filing bankruptcy. In fact, Bankruptcy is written in the Constitution. Let me evaluate your situation and provide honest answers regarding your best course of action.
Chapter 7 bankruptcy is often referred to as debt elimination in that your unsecured debt will simply be discharged without the need for repayment. Unsecured debt such as medical bills, credit card debt, certain personal loans, lawsuit judgments and even certain taxes will be eliminated at the end of the bankruptcy process. I will guide you through the process while answering questions regarding your unique situation.
In 2005, the Bankruptcy Code underwent a major revision. A "means test" was introduced to curb abuses in the bankruptcy process. Essentially this is a test to determine whether you are eligible to file for Chapter 7 bankruptcy; in short, if you have too much disposable income left at the end of the month, you cannot file Chapter 7 bankruptcy because you have the "means" to pay something to your creditors. The means test is rather complicated in its implementation and contains many pitfalls for the unwary. Let an experienced Chapter 7 personal bankruptcy lawyer guide you through this difficult process.
Many individuals are concerned about losing their assets or having their assets liquidated in Chapter 7 bankruptcy. California allows people to claim exemptions based on the property they would like to retain. Homes, cars, jewelry, clothes and furniture are just some of the assets that people can list as exempt. It is wise to let an experienced Chapter 7 personal bankruptcy lawyer examine your unique situation and provide valuable insight.
If you have further questions regarding Chapter 7 bankruptcy, contact an experienced lawyer. Schedule a free initial consultation with an me by calling 951-549-9446 or by completing my convenient online contact form.
I am an experienced bankruptcy attorney. I help people file for bankruptcy relief under the Bankruptcy Code.