Do You Need a Chapter 7 Bankruptcy Attorney?
It’s time to consider bankruptcy in Richmond 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 Richmond 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
Richmond 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 Richmond 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 typical alternative for individuals who want to state them insolvent. In fact, when individuals talk about this topic, 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 treatment. Specifically, after the introduction of the new laws in October 2005, now, it has ended up being obligatory 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 attorney especially if you live in Richmond or in a nearby city.
First, you have to pass a Means test, where all your earnings and essential expenses are assessed. The means test includes subtracting the everyday essential expense (the expenses that you can not live without) from the total income on a regular monthly basis. It is just if the output is less than the typical income 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 earnings of the state, the bankruptcy court will ask you to file under chapter 13 of the code.
Prior to you go on and file under Chapter 7 Bankruptcy Laws, it is important for you to go through a credit therapy procedure. The purpose of presenting this action is to assess the real monetary circumstance of the debtor.
The credit counseling company will look into the monetary information of the debtor and will try to help the debtor handle their finances and get it back on track, in addition to paying the debts that the debtor owe to various financial institutions. If there is any possibility to get the financial resources of the debtor managed, the debtor will not be able 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
The debtor should apply for bankruptcy under chapter 7 in the location where he or she is irreversible citizen. If the debtor is running a service in a specific area, he or she need to declare bankruptcy in its principal workplace or principal assets. Overall, the primary purpose of the chapter 7 bankruptcy laws is to assist the debtor to obtain remedy for all the financial obligations that he or she 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 gathered is then used to settle the claims of the numerous creditors on priority basis, if any. The of chapter 7 bankruptcy laws use a chance for the debtors to obtain a clean slate for their financial life, as the bankruptcy code relating to the very same, liquidates all the possessions and homes of the debtors after permitting the exemptions, in order to settle the claims of the lenders in a nearby region.
In this manner, the court brings the wanted debt relief for the debtor.
Map of Richmond CA