Do You Need a Chapter 7 Bankruptcy Attorney?
It’s time to consider bankruptcy in San Francisco 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 Francisco 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 Francisco 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 Francisco and the surrounding areas.
More About Hiring a Chapter 7 Bankruptcy Attorney in San Francisco 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 talk about this topic, 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 systematic procedure. Especially, after the introduction of the new laws in October 2005, now, it has ended up being mandatory for you to pas a Means test and go through a credit counseling process from a government approved credit-counseling firm.
Finding an excellent and knowledgeable bankruptcy attorney especially if you live in San Francisco or in a nearby city.
First, you have to pass a Means test, where all your earnings and necessary expenditures are examined. The means test includes subtracting the daily vital expense (the costs that you can not live without) from the overall earnings on a monthly basis. It is just if the output is less than the median 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 income of the state, the bankruptcy court will ask you to file under chapter 13 of the code.
Before you go on and file under Chapter 7 Bankruptcy Laws, it is vital for you to go through a credit therapy treatment. The function of introducing this action is to examine the real financial situation of the debtor.
The credit therapy company will check out the financial information of the debtor and will aim to help the debtor manage their finances and get it back on track, together with paying the financial obligations that the debtor owe to various lenders. If there is any possibility to obtain 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 needs to declare bankruptcy under chapter 7 in the location where she or he is long-term citizen. If the debtor is running a service in a particular area, he or she should declare bankruptcy in its principal business or primary properties. In general, the primary function of the chapter 7 bankruptcy laws is to assist the debtor to obtain remedy for all the debts that she or he currently owes. In this procedure, the bankruptcy court appoints a trustee, who even more goes on with the treatment of liquidating all the properties and residential or commercial properties of the debtor.
The cash thus gathered is then utilized to settle the claims of the different creditors on top priority basis, if any. The of chapter 7 bankruptcy laws use an opportunity for the debtors to get a new beginning for their financial life, as the bankruptcy code relating to the same, liquidates all the properties and properties of the debtors after allowing the exemptions, in order to settle the claims of the creditors in a nearby region.
By doing this, the court brings the desired financial obligation relief for the debtor.
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