Burbank 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 Ventura 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
Burbank 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 common option for individuals who wish to declare them insolvent. In fact, when individuals talk about this topic, it is the bankruptcy as explained under chapter 7 of the code of the United States of America. Filing for bankruptcy according to Chapter 7 of Bankruptcy Laws is a systematic treatment. Especially, after the intro of the brand-new laws in October 2005, now, it has actually become obligatory for you to pas a Means test and go through a credit therapy process from a federal government approved credit-counseling firm. Finding an excellent and knowledgeable bankruptcy attorney especially if you live in Burbank or in a nearby city. Means Test Initially, you have to pass a Means test, where all your earnings and vital expenditures are assessed. The means test involves deducting the day-to-day important expense (the expenditures that you can not live without) from the overall earnings on a regular monthly basis. It is just if the output is less than the mean income of the state, you can file for bankruptcy under the Chapter 7 of US Bankruptcy Laws. Nevertheless, in case, the output is more than the median earnings 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 introducing this step is to assess the actual financial situation of the debtor. The credit counseling firm will look into the monetary details of the debtor and will attempt to assist the debtor handle their finances and get it back on track, in addition to paying the debts that the debtor owe to different financial institutions. 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 must file for bankruptcy under chapter 7 in the area where he or she is long-term homeowner. If the debtor is running a company in a specific location, he or she must declare bankruptcy in its primary place of business or primary possessions. In general, the primary function of the chapter 7 bankruptcy laws is to assist the debtor to get relief from all the debts that she or he presently owes. In this procedure, the bankruptcy court designates a trustee, who even more goes ahead with the treatment of liquidating all the properties and homes of the debtor. The cash thus collected is then utilized to settle the claims of the numerous financial institutions on concern basis, if any. The of chapter 7 bankruptcy laws use a chance for the debtors to get a new beginning for their financial life, as the bankruptcy code concerning the very same, liquidates all the possessions and homes 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 wanted debt relief for the debtor.
Map of Burbank 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