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Chapter 7 Bankruptcy Attorney Bakersfield CA

Do You Need a Chapter 7 Bankruptcy Attorney?

It’s time to consider bankruptcy in Bakersfield CA, 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 Bakersfield 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

Bakersfield 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 Bakersfield and the surrounding areas.

More About Hiring a Chapter 7 Bankruptcy Attorney in Bakersfield CA

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 typical choice for people who want to state them insolvent. In fact, when individuals discuss this topic, it is the bankruptcy as described 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 intro of the brand-new laws in October 2005, now, it has ended up being mandatory for you to pas a Means test and go through a credit therapy process from a government approved credit-counseling firm.

Finding an excellent and knowledgeable bankruptcy lawyer especially if you live in Bakersfield or in a nearby city.

Means Test

First, you need to pass a Means test, where all your income and important expenditures are assessed. The means test involves deducting the day-to-day vital expenditure (the costs 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 typical earnings of the state, you can apply for bankruptcy under the Chapter 7 of US Bankruptcy Laws. Nevertheless, 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

Before 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 introducing this step is to evaluate the real monetary circumstance of the debtor.

The credit therapy firm will look into the financial information of the debtor and will aim 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 numerous creditors. If there is any possibility to get the financial resources of the debtor managed, the debtor will not have the ability 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

chapter_7_bankruptcy The debtor needs to declare bankruptcy under chapter 7 in the location where he or she is permanent resident. If the debtor is running an organization in a particular location, she or he ought to declare bankruptcy in its principal business or principal properties. Overall, the main function of the chapter 7 bankruptcy laws is to assist the debtor to get remedy for all the financial obligations that she or he presently owes. In this process, the bankruptcy court selects a trustee, who further proceeds with the treatment of liquidating all the assets and properties of the debtor.

The cash therefore collected is then used to settle the claims of the numerous financial institutions on top priority basis, if any. The of chapter 7 bankruptcy laws use a chance for the debtors to obtain a new beginning for their monetary life, as the bankruptcy code concerning the very same, liquidates all the possessions and homes of the debtors after allowing the exemptions, in order to settle the claims of the financial institutions in a nearby region.

By doing this, the court brings the desired debt relief for the debtor.