Nuevo 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
Nuevo 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 described under chapter 7 of the code of the United States of America. Filing for bankruptcy as per Chapter 7 of Bankruptcy Laws is an organized procedure. Particularly, after the intro of the new laws in October 2005, now, it has become compulsory for you to pas a Means test and go through a credit counseling procedure from a government approved credit-counseling agency. Finding an excellent and knowledgeable bankruptcy attorney especially if you live in Nuevo or in a nearby city. Means Test Initially, you need to pass a Means test, where all your earnings and essential expenses are examined. The means test involves deducting the day-to-day important expense (the expenses that you can not live without) from the overall earnings on a monthly basis. It is just if the output is less than the average 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 mean income of the state, the bankruptcy court will ask you to file under chapter 13 of the code. Credit Counseling Prior to you go ahead and file under Chapter 7 Bankruptcy Laws, it is necessary for you to go through a credit therapy procedure. The purpose of presenting this step is to assess the real monetary scenario of the debtor. The credit counseling agency will check out the monetary information of the debtor and will aim to help the debtor manage their financial resources and get it back on track, along with paying the debts that the debtor owe to different creditors. If there is any possibility to obtain the finances of the debtor handled, 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 permanent resident. If the debtor is running a service in a specific location, she or he ought to file for bankruptcy in its principal business or principal assets. In general, the primary purpose of the chapter 7 bankruptcy laws is to help the debtor to obtain remedy for all the financial obligations that he or she presently owes. In this process, the bankruptcy court designates a trustee, who further goes on with the procedure of liquidating all the assets and homes of the debtor. The money hence gathered is then utilized to settle the claims of the different lenders on top priority basis, if any. The of chapter 7 bankruptcy laws offer a chance for the debtors to obtain a clean slate for their monetary life, as the bankruptcy code relating to the same, liquidates all the properties and homes 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 Nuevo 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