Long Beach 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 Orange 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
Long Beach 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 want to declare them insolvent. In fact, when people discuss this topic, it is the bankruptcy as explained under chapter 7 of the code of the United States of America. Filing for bankruptcy based on Chapter 7 of Bankruptcy Laws is a systematic procedure. Specifically, after the intro of the brand-new laws in October 2005, now, it has actually ended up being obligatory for you to pas a Means test and go through a credit counseling procedure from a federal government approved credit-counseling company. Finding an excellent and knowledgeable bankruptcy lawyer especially if you live in Long Beach or in a nearby city. Means Test Initially, you have to pass a Means test, where all your earnings and vital expenses are examined. The means test involves deducting the day-to-day important expense (the costs that you can not live without) from the total earnings on a monthly basis. It is only if the output is less than the mean earnings 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 typical income of the state, the bankruptcy court will ask you to file under chapter 13 of the code. Credit Counseling Before you proceed and file under Chapter 7 Bankruptcy Laws, it is vital for you to go through a credit therapy treatment. The function of presenting this step is to examine the real monetary scenario of the debtor. The credit counseling agency will check out the monetary information of the debtor and will attempt to help the debtor handle their finances and get it back on track, in addition to paying the debts that the debtor owe to different creditors. 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 declare bankruptcy under chapter 7 in the location where she or he is long-term homeowner. If the debtor is running an organization in a specific location, she or he need to file for bankruptcy in its principal workplace or primary possessions. In general, the main purpose of the chapter 7 bankruptcy laws is to assist the debtor to get relief from all the financial obligations that he or she currently owes. In this process, the bankruptcy court designates a trustee, who further proceeds with the treatment of liquidating all the properties and properties of the debtor. The cash therefore gathered is then used to settle the claims of the different financial institutions on concern basis, if any. The of chapter 7 bankruptcy laws use an opportunity for the debtors to obtain a clean slate for their monetary life, as the bankruptcy code regarding the same, liquidates all the properties and homes of the debtors after enabling 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 preferred debt relief for the debtor.
Map of Long Beach 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