Chapter 7 Bankruptcy Attorney
FILING FOR BANKRUPTCY IS YOUR LEGAL SOLUTION TO A FRESH START
SEE IF YOU QUALIFY
Chapter 7 Bankruptcy
This is usually called a “liquidation,” since your non-exempt property will be sold to your creditors and your proceeds will be distributed.
Once this process is finished, you’ll start completely new— you don’t have to worry about payment plans or remain involved in the bankruptcy tribunal.
This typically occurs if someone has little non-exempt property, a lot of unsecured debt like debt by credit card. In the event of chapter 7 bankruptcy, you can release your debt rapidly and keep all the revenue or assets you receive after bankruptcy is filed.
Chapter 7 fails with a number of potential disadvantages. Your property may be lost. If there is an asset that is not covered under your bankruptcy exemption, you may be compelled to sell and payout the proceeds to your creditors. You can only file a bankruptcy of Chapter 7 if you will be given a dismiss in a case of Chapter 7 at least eight years ago.
Our Bankruptcy Process
Chapter 7 Bankruptcy Benefits
Our Chapter 7 Bankruptcy Attorneys can offer these type of benefits
REAL WORLD RESULTS
“Getting into debt was easy… But getting out of debt was overwhelming. LG LAW helped me clear my debt and gave me a fresh start.”
– James F 2016 client
“Excellent waiting room. Staff was very friendly and very knowledgeable. Good Job Guys!”
– Maria M 2009 Client
Why Us
Our team of 30+ experienced Attorneys and legal professionals are committed to providing our clients with hope and guidance when facing debt challenges. We do this with compassion and understanding, believing that our clients’ needs in a specific case are unique to their situation and can be managed through legal alternatives up to and including bankruptcy. Our professionalism and superior services are offered to our clients to help with ending the difficult battle with ever-growing debt management issues. LG LAW has consistently provided our clients with the tools and information necessary to achieve the best possible outcome for debt related problems.
Who is Eligible for a Chapter 7 Bankruptcy in California?
If your current monthly income is below the California median income, you can file a Chapter 7 case without worrying about the means tests. Higher income filers must pass the means test, which requires you to calculate your allowable expenses and subtract them from you income. If your monthly income, net of the statutorily allowed expenses, is over a certain threshold amount, then it is presumed that a Chapter 7 filing would be abusive. You can overcome this presumption by showing special circumstances that justify additional expenses or adjustments to income. Otherwise, your case will be converted into a Chapter 13 bankruptcy or dismissed.
Even if you are eligible for a Chapter 7 Bankruptcy, it is not necessarily the best option for your situation. If you want to keep your home and it is not completely covered by your California bankruptcy exemptions, then you may want to consider other options. Talk to a California bankruptcy attorney to learn more about the best type of bankruptcy for your situation.
The LG LAW OFFICE IN ONTARIO can help you decide whether a Chapter 7 bankruptcy is the right choice for you. Contact us to request your no-cost consultation with one of our experienced legal advocates.
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