LG LAW Chapter 7 Bankruptcy Attorney in Ontario

Chapter 7 bankruptcy, also known as liquidation, is the most popular form of bankruptcy.
In chapter 7 bankruptcy, there is a trustee, that is appointed by the Federal Court to oversee the whole liquidation process. The trustees are to make sure that all the non-exempted assets are sold and the returns are used to pay off the creditors.
Immediately the trustees pay off those debtors, you are financially free, to start a new life, all your debts will be foregone.
Chapter 7 bankruptcy is perfect for individuals that don’t have much non-exempted property and those that have big unsecured debts like credit card debt.
Chapter 7 bankruptcy helps to wipe out your debts quickly. Once your debts are settled, any earning and/or income received is yours to keep 100%.
It is adjustable to check with a chapter 7 bankruptcy attorney to see which of your property you will get to keep and which one you will have to sell, before filing for a chapter 7 bankruptcy.

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Without proper guidance, you might lose your properties during chapter 7 bankruptcy.

Once you filed for chapter 7 bankruptcy, you will have to sell all your non-exempted property and give the money to your creditors.
Most individuals don’t know the difference between an exempt property and nonexempt property, Do you?

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One of the numerous advantages of liquidation is that it allows you to get rid of your creditors fast, through the selling of your non exempted properties. It is the most known form of bankruptcy.
In Ontario, Chapter 7 bankruptcy is known to be used individuals to protect assets like; business property, retirement, vehicles, wages, personal property, your home, insurance benefits and so on.
Qualification for the chapter 7 bankruptcy is determined by the bankruptcy code. It uses individuals incomes majorly to determine if an individual is eligible for chapter 7 bankruptcy.
Those that are qualified for the chapter 7 bankruptcy must have an income that is below the average Californian median.
If your income more than the California state median, you will have to take a means test. The means test is for only those that earn less than the state median.
The Means test is complicated in nature, to get the best and accurate information, talk to a bankruptcy lawyer today.

Our Ontario corporate law office is located at:

337 N Vineyard
Ave #100, Ontario,
CA 91764, USA.

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Chapter 7 Bankruptcy Benefits

At LG Law Ontario, our professional chapter 7 bankruptcy attorney can offer you the following benefits:

Benefits 1: Get Rid of Credit Card Debt

If getting rid of excess debt is in your priority list, then applying for chapter 7 bankruptcy can help you do that.
Unsecured debts like credit card debts can be wiped out by applying for chapter 7 bankruptcy.
Your non exempted properties are required to be sold, to pay back the credit card company.
Not all types of credit card debts can be removed by applying for liquidation, the types of debts that be discharged are called non-priority debts.
Examples of priority debts (those that cannot be discharged) are alimony, child support, and some tax debts.
If there is any case of suspected fraudulent activities, misleading information or false pretence in regard to your credit cards, the credit card debts will be not be discharged.

Benefits 2: Stop wage garnishement

Wage garnishment is a legal method, used by lenders or credit companies to complete money from debtors by obtaining a court order that will allow them to collect a portion of the debtor’s earning from the employers without your consent, and this will continue until you finished paying your debts off.
Once your creditors obtain a court order for wage garnishment, your employer will set aside a percentage of your earned income to be given to your lender every month until you finished paying your debts.
When you file for any form of bankruptcy, the court will order to be a stop in all collection until the bankruptcy case is over. It will automatically stop wage garnishment because your debtors are not allowed to collect any money for you until the case is over.
Filing for chapter 7 bankruptcy can help stop wage garnishment. The court will prohibit the creditors from collecting any payment from you during the process of bankruptcy.

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Benefits 3: Stop creditor harassment

Are your creditors harassing you? Then you need to file for bankruptcy to stop all this harassment from your creditors.
Call 1(888)901-5240 now, to learn more.
Most times, some creditors don’t mind going extra miles to make sure they get their money back. They use different measures that are uncivilised and embarrassing to make sure they get their money; they keep calling you at odd hours, calling your loved ones, and so on.
Stop all these harassments by filing for bankruptcy Today!
An automatic stay will be imposed on your creditors when you apply for chapter 7 bankruptcy. It will prevent them from requesting and collecting money from you for the period of the bankruptcy process.

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Benefits 4: Stop home foreclosure

Another benefit of chapter 7 bankruptcy is that it allows you to stop foreclosure on your property that is scheduled for sale.
In chapter 7 bankruptcy you lose little or no property when you apply, it allows you to wipe out your dischargeable debts.
Chapter 7 bankruptcy will discharge you off on the amount owed on your mortgage note, but it won’t discharge your mortgage lien.
Chapter 7 bankruptcy will stop foreclosure temporarily while the bankruptcy case is ongoing, this is so because of the automatic stay that comes with filing for bankruptcy.
Your creditors are forbidden to make any form of contact with you for the period of the bankruptcy process, because of the automatic stay.
The foreclosure on your home can wait for up to 5 months, this because the bankruptcy process can take up to 5 months to be resolved.
During this period, you can work out a deal with your creditors or explore other alternatives with your creditors.

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About us

LG law firm is founded in 1999, to help their clients to get the best benefit they deserved in any case that they might be involved in ranging from bankruptcy, workers’ compensation, foreclosure and personal injury.
In 2017 only, we help our clients with a payment of $2.3 million in medical treatments.
Our team of legal professionals have a success rate of 99% in the 13, 977 cases handles.
Our team consists of over 30 experienced attorney and legal assistants in Ontario.

Why Us

We have a team of over 30 learned attorneys and legal professional, that are committed to giving our clients the necessary guidance, during their debt challenges.
We do this believing that our clients deserved the best in their case and their needs are unique to their situation, and this their unique challenges can be managed uniquely through the help of our team of professionals.
Our services are aimed at getting our clients out of debts, and we provide means to help them stay financially free.

Call To Action

For your bankruptcy case, worker’s compensation, and personal injury, you need LG law firm to offer you the best service available.
Call LG Law Firm now to book an appointment with the best attorney in Ontario

1(888)901-5240

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REAL WORLD RESULTS

“I’ve received $400,000.00 through a Compromise and Release in addition to Medical Treatment for Life!”
-Mr. Rojas

“My insurance company wanted to close the case without the possibility of future medical treatment. LG LAW allowed me to continue seeking necessary medical treatment paid by the insurance company.”
– Mr. Avalos

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