Back to Bankruptcy Home Page. CLICK HERE!WE'RE ON YOUR SIDE
Can a Chapter 7 Bankruptcy Help Me? It is Very Possible.
A Chapter 7 bankruptcy is a proceeding where you are allowed to get rid of your debts in exchange for turning over your "non-exempt" property to your creditors. Consider, if you don't have non-exempt property, or, as is often the case, if you own very little property, you will be allowed to get rid of your debts without losing anything.
Can I file a California Chapter 7 Bankruptcy?
If you live, have a business, or have property in California, and have had for the last 180 days then you likely can file for Chapter 7 Bankruptcy in California.
Generally speaking, if you have not filed a Chapter 7 bankruptcy in the last 6 years and you find yourself coming home to pay your monthly living expenses (your food, utilities, etc.) but have no money left over for your creditors, your likely eligible to file a Chapter 7 bankruptcy.
What bills can I eliminate?
Virtually ALL BILLS can be eliminated in a Chapter 7 Bankruptcy. But, there are a few exceptions such as:
Student Loans
Spousal or Child Support
Recent Taxes
Criminal Fines, penalties
Debts incurred as a result of driving drunk, and some others.
Why should I file?
Most commonly because you have suffered a loss of work, been injured and have medical bills, are getting divorced, have other large expenses, or have just gotten in too deep with your credit cards.
What are the benefits of filing a Chapter 7 Bankruptcy?
A Chapter 7 Bankruptcy will
Stop wage garnishments
Stop foreclosure
Stop the creditors from calling and harassing you
Stop a lawsuit
Stop collections on debts that you cosigned
Stop collection on your personal debts
Stop an Unlawful Detainer - Eviction Proceeding
Stop collection on a judgment against you, and
Stop and possibly remove liens on you home or furnishings.
But I am married, I don't want my spouse to have to pay for my debts.
That's fine, in many instances you can file by yourself.
But I am afraid, I do not want to lose my job or go to jail.
You wont. Your employer is not allowed to discriminate against you for filing bankruptcy and you just can not ever go to jail as a result of filing bankruptcy.
Well, what about my home, car, and personal belongings?
In most instances, depending on how much "equity" you have in your home and car, you can keep these items. California Law allows you to keep a certain amount of reasonably necessary property including things like your home, car and personal belongings. A trained bankruptcy attorney can easily evaluate your assets and give you an immediate answer as to property at risk.
Will I be constantly in Court and having to take time off work?
NO! You will be required to attend one brief Court appearance. In usual cases this
appearance, called the "First Meeting of Creditors" lasts just a few minutes (that's right minutes!). Generally this appearance will be your last.Won't Bankruptcy ruin my credit?
NO! Remember, "credit" is only a term indicating the measure by which we are capable of borrowing money. Chances are, if you are reading this newsletter, you are not able to borrow anyway. Your credit is poor or in a state of ruin already. As the saying goes, there is only one direction to travel from the bottom of the bucket. Furthermore, more and more, the credit industry is recognizing that those who have filed bankruptcy are actually good borrowing candidates. Why? Because they have no debt, they have money available, they can not file bankruptcy again for 6 years. Don't simply believe that your credit will vanish after bankruptcy. This is not generally the case.
How can
LAW-PRO-9, P.C. help me?We are trained attorneys who have literally handled thousands of Chapter 7 bankruptcies in California. It is our goal to provide a painless and reassuring trip through the entire Chapter 7 process, from beginning to end. You won't be stuck with just a paralegal. You won't go to Court alone. You will have your questions answered and you can be assured that your property will be protected as much as the law will allow.
1-877-LAW-PRO-9 (1-877-529-7769). Call us TOLL FREE!
Disclaimer
Remember, although this newsletter is intended to answer many of your questions in general, the specifics about you and your family are always unique. This newsletter is not intended to be a legal opinion or legal advice as concerns your particular situation.
Back to Bankruptcy Home Page. CLICK HERE!
Tell me about LAW-PRO-9, P.C., Bankruptcy Professionals. CLICK HERE!
Can I ask a LAW-PRO-9, P.C. attorney a question about bankruptcy? CLICK HERE!
How do I contact LAW-PRO-9, P.C. about bankruptcy? CLICK HERE!
How much do you charge for a bankruptcy? CLICK HERE!
Give me an overview of the whole bankruptcy process. CLICK HERE!
A gift for your debt freedom in the millennium from Your Bankruptcy Professionals. CLICK HERE!