Moreno Valley 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 Santa Barbara 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
Moreno Valley 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 alternative for individuals who wish to declare them bankrupt. In fact, when people talk about this subject, it is the bankruptcy as explained under chapter 7 of the code of the United States of America. Declare bankruptcy based on Chapter 7 of Bankruptcy Laws is an organized procedure. Especially, after the introduction of the new laws in October 2005, now, it has actually become necessary for you to pas a Means test and go through a credit therapy process from a federal government authorized credit-counseling company. Finding an excellent and knowledgeable bankruptcy lawyer especially if you live in Moreno Valley or in a nearby city. Means Test Initially, you have to pass a Means test, where all your income and essential expenses are assessed. The means test includes subtracting the day-to-day important expense (the expenditures that you can not live without) from the total income on a regular monthly basis. It is only if the output is less than the mean earnings of the state, you can declare bankruptcy under the Chapter 7 of US Bankruptcy Laws. However, in case, the output is more than the average income of the state, the bankruptcy court will ask you to file under chapter 13 of the code. Credit Counseling Prior to you proceed and file under Chapter 7 Bankruptcy Laws, it is important for you to go through a credit counseling treatment. The function of introducing this action is to assess the real financial scenario of the debtor. The credit counseling company will look into the financial details of the debtor and will attempt to help the debtor handle their financial resources and get it back on track, along with paying the financial obligations that the debtor owe to various lenders. If there is any possibility to get the financial resources of the debtor managed, the debtor will not be able 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 must apply for bankruptcy under chapter 7 in the area where he or she is permanent citizen. If the debtor is running a company in a specific area, she or he ought to apply for bankruptcy in its primary business or primary assets. In general, the main function of the chapter 7 bankruptcy laws is to help the debtor to obtain remedy for all the debts that he or she presently owes. In this process, the bankruptcy court designates a trustee, who even more goes on with the treatment of liquidating all the assets and residential or commercial properties of the debtor. The cash thus collected is then used to settle the claims of the various creditors on top priority basis, if any. The of chapter 7 bankruptcy laws use an opportunity for the debtors to get a new beginning for their monetary life, as the bankruptcy code relating to the exact 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. This way|By doing this|In this manner}, the court brings the wanted financial obligation relief for the debtor.
Map of Moreno Valley 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