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Chapter 7 Bankruptcy Attorney Redding CA

Do You Need a Chapter 7 Bankruptcy Attorney?

It’s time to consider bankruptcy in Redding 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 Redding 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

Redding 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 Redding and the surrounding areas.

More About Hiring a Chapter 7 Bankruptcy Attorney in Redding 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 option for people who want to declare them insolvent. In fact, when individuals discuss this subject, it is the bankruptcy as explained under chapter 7 of the code of the United States of America. Filing for bankruptcy based on Chapter 7 of Bankruptcy Laws is a methodical treatment. Specifically, after the intro of the brand-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 lawyer especially if you live in Redding or in a nearby city.

Means Test

First, you have to pass a Means test, where all your income and important expenditures are examined. The means test includes deducting the everyday necessary 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 apply for bankruptcy under the Chapter 7 of US Bankruptcy Laws. However, in case, the output is more than the median 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 counseling procedure. The purpose of presenting this step is to examine the actual financial situation of the debtor.

The credit therapy company will look into the monetary details of the debtor and will aim to help the debtor manage their finances and get it back on track, along with paying the debts that the debtor owe to different financial institutions. If there is any possibility to obtain the financial resources 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

chapter_7_bankruptcy The debtor must declare bankruptcy under chapter 7 in the location where he or she is permanent homeowner. If the debtor is running an organization in a particular location, she or he must file for bankruptcy in its principal workplace or principal possessions. In general, the primary purpose 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 even more proceeds with the treatment of liquidating all the properties and homes of the debtor.

The cash thus gathered is then used to settle the claims of the various lenders on priority basis, if any. The of chapter 7 bankruptcy laws use a chance for the debtors to get a clean slate for their monetary life, as the bankruptcy code relating to the same, liquidates all the assets and homes of the debtors after allowing the exemptions, in order to settle the claims of the lenders in a nearby region.

This way, the court brings the preferred financial obligation relief for the debtor.