Valencia 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 San Diego 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
Valencia 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 people who wish to declare them insolvent. In fact, when people speak about this subject, it is the bankruptcy as described under chapter 7 of the code of the United States of America. Declare bankruptcy according to Chapter 7 of Bankruptcy Laws is an organized treatment. Especially, after the introduction of the brand-new laws in October 2005, now, it has 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 agency. Finding an excellent and knowledgeable bankruptcy attorney especially if you live in Valencia or in a nearby city. Means Test First, you need to pass a Means test, where all your earnings and essential expenses are evaluated. The means test involves subtracting the daily important expenditure (the expenses that you can not live without) from the overall income on a regular monthly basis. It is just if the output is less than the average income of the state, you can declare bankruptcy under the Chapter 7 of US Bankruptcy Laws. Nevertheless, in case, the output is more than the average earnings of the state, the bankruptcy court will ask you to file under chapter 13 of the code. Credit Counseling Before you go ahead and file under Chapter 7 Bankruptcy Laws, it is vital for you to go through a credit counseling treatment. The function of presenting this step is to examine the actual monetary circumstance of the debtor. The credit counseling firm will look into the monetary information of the debtor and will try to assist the debtor handle their finances and get it back on track, together with paying the debts that the debtor owe to different creditors. If there is any possibility to get the finances of the debtor handled, the debtor will not have the ability 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 should declare bankruptcy under chapter 7 in the area where he or she is permanent local. If the debtor is running an organization in a particular area, he or she need to apply for bankruptcy in its primary place of business or primary properties. Overall, the primary function of the chapter 7 bankruptcy laws is to assist the debtor to get relief from all the financial obligations that she or he currently owes. In this process, the bankruptcy court appoints a trustee, who further proceeds with the procedure of liquidating all the possessions and properties of the debtor. The money thus gathered is then utilized 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 obtain a fresh start for their monetary life, as the bankruptcy code regarding the very same, liquidates all the properties and residential or commercial properties of the debtors after permitting the exemptions, in order to settle the claims of the creditors in a nearby region. This way|By doing this|In this manner}, the court brings the wanted debt relief for the debtor.
Map of Valencia 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