Do You Need a Chapter 7 Bankruptcy Attorney?
It’s time to consider bankruptcy in Huntington Beach 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 Huntington Beach 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
Huntington 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 Huntington Beach and the surrounding areas.
More About Hiring a Chapter 7 Bankruptcy Attorney in Huntington Beach 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 common alternative for people who wish to declare them bankrupt. 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 according to Chapter 7 of Bankruptcy Laws is a methodical treatment. Particularly, after the introduction of the new laws in October 2005, now, it has actually ended up being mandatory for you to pas a Means test and go through a credit counseling procedure from a federal government authorized credit-counseling company.
Finding an excellent and knowledgeable bankruptcy attorney especially if you live in Huntington Beach or in a nearby city.
First, you need to pass a Means test, where all your earnings and necessary expenses are examined. The means test involves deducting the day-to-day vital expense (the expenditures that you can not live without) from the total earnings on a month-to-month basis. It is just if the output is less than the median 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 mean income of the state, the bankruptcy court will ask you to file under chapter 13 of the code.
Before you go ahead and file under Chapter 7 Bankruptcy Laws, it is important for you to go through a credit counseling procedure. The function of presenting this action is to assess the real financial situation of the debtor.
The credit counseling firm 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, together with paying the financial obligations that the debtor owe to various financial institutions. If there is any possibility to get 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 needs to apply for bankruptcy under chapter 7 in the location where she or he is long-term citizen. If the debtor is running an organization in a particular area, he or she should declare bankruptcy in its primary workplace or primary properties. Overall, the main function of the chapter 7 bankruptcy laws is to help the debtor to get relief from all the debts that she or he currently owes. In this process, the bankruptcy court appoints a trustee, who even more proceeds with the treatment of liquidating all the properties and residential or commercial properties of the debtor.
The money therefore collected is then used to settle the claims of the different financial institutions on top priority basis, if any. The of chapter 7 bankruptcy laws use an opportunity for the debtors to get a clean slate for their financial 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 financial institutions in a nearby region.
In this manner, the court brings the preferred financial obligation relief for the debtor.
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