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Chapter 7 Bankruptcy Attorney San Diego CA

Do You Need a Chapter 7 Bankruptcy Attorney?

It’s time to consider bankruptcy in San Diego 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 San Diego 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

San Diego 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 San Diego and the surrounding areas.

More About Hiring a Chapter 7 Bankruptcy Attorney in San Diego 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 choice for individuals who wish to declare them bankrupt. In fact, when people talk about this subject, it is the bankruptcy as described under chapter 7 of the code of the United States of America. Filing for bankruptcy based on Chapter 7 of Bankruptcy Laws is a systematic procedure. Specifically, after the intro of the brand-new laws in October 2005, now, it has ended up being necessary for you to pas a Means test and go through a credit counseling process from a government authorized credit-counseling firm.

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

Means Test

First, you need to pass a Means test, where all your earnings and important expenses are assessed. The means test involves subtracting the day-to-day important expenditure (the expenditures that you can not live without) from the total income on a regular monthly basis. It is only if the output is less than the average income of the state, you can declare bankruptcy under the Chapter 7 of US Bankruptcy Laws. However, in case, the output is more than the mean earnings of the state, the bankruptcy court will ask you to file under chapter 13 of the code.

Credit Counseling

Prior to you proceed and file under Chapter 7 Bankruptcy Laws, it is necessary for you to go through a credit therapy treatment. The function of presenting this step is to examine the actual financial scenario of the debtor.

The credit counseling agency will check out the financial information of the debtor and will aim to assist the debtor handle their financial resources and get it back on track, along with paying the financial obligations that the debtor owe to various creditors. If there is any possibility to get the finances of the debtor handled, the debtor will not be able to file 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 should apply for bankruptcy under chapter 7 in the area where she or he is long-term homeowner. If the debtor is running an organization in a particular location, he or she must file for bankruptcy in its principal business or primary assets. Overall, the primary function of the chapter 7 bankruptcy laws is to help the debtor to get remedy for 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 possessions and residential or commercial properties of the debtor.

The money thus gathered is then used to settle the claims of the different lenders on top priority basis, if any. The of chapter 7 bankruptcy laws offer an opportunity for the debtors to get a clean slate for their financial life, as the bankruptcy code regarding the same, liquidates all the properties and homes of the debtors after enabling the exemptions, in order to settle the claims of the financial institutions in a nearby region.

In this manner, the court brings the wanted financial obligation relief for the debtor.