Altadena Chapter 7 Lawyer
Do You Need a Chapter 7 Bankruptcy Attorney?
It’s time to consider bankruptcy 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 Riverside County 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
Altadena 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 Los Angeles 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 typical choice for people who want to declare them bankrupt. 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. Filing for bankruptcy according to Chapter 7 of Bankruptcy Laws is a methodical procedure. Especially, after the introduction of the new laws in October 2005, now, it has actually ended up being compulsory for you to pas a Means test and go through a credit counseling process from a federal government approved credit-counseling agency. Finding an excellent and knowledgeable bankruptcy attorney especially if you live in Altadena or in a nearby city. Means Test Initially, you need to pass a Means test, where all your income and important expenditures are evaluated. The means test includes deducting the daily necessary expenditure (the expenditures that you can not live without) from the overall earnings on a monthly basis. It is just if the output is less than the typical 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 mean income of the state, the bankruptcy court will ask you to file under chapter 13 of the code. Credit Counseling Before you go on and file under Chapter 7 Bankruptcy Laws, it is necessary for you to go through a credit therapy procedure. The function of presenting this step is to examine the actual financial circumstance of the debtor. The credit counseling agency will check out the financial information of the debtor and will try to help the debtor handle their finances and get it back on track, along with paying the financial obligations that the debtor owe to numerous lenders. If there is any possibility to obtain the financial resources of the debtor managed, the debtor will not have the ability 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 The debtor needs to apply for bankruptcy under chapter 7 in the location where he or she is permanent homeowner. If the debtor is running a business in a specific location, he or she ought to declare bankruptcy in its principal workplace or principal properties. In general, the main function of the chapter 7 bankruptcy laws is to assist the debtor to get remedy for all the financial obligations that she or he currently owes. In this process, the bankruptcy court selects a trustee, who further goes ahead with the procedure of liquidating all the possessions and homes of the debtor. The cash thus gathered is then used to settle the claims of the various creditors on priority basis, if any. The of chapter 7 bankruptcy laws use a chance for the debtors to get a clean slate for their financial life, as the bankruptcy code concerning the same, liquidates all the assets and residential or commercial properties of the debtors after permitting the exemptions, in order to settle the claims of the lenders in a nearby region. This way|By doing this|In this manner}, the court brings the desired debt relief for the debtor.
Map of Altadena CA
The Bankruptcy Experts
1605 W. Olympic Blvd. Suite 1024
Los Angeles, CA 90015
Monday – Friday: 8:00am – 6:00pm
Saturday: 10:00am – 4:00pm