This is a Flash “Limited-Scope” service for Chapter 7 Bankruptcy only. In this limited-scope service, all Chapter 7 Bankruptcy services are provided by a licensed California attorney. Also, a licensed California attorney will appear with Debtor at a required Meeting of the Creditors.
Central District of California Only.
Deciding to file for bankruptcy is a very tough decision. You may be feeling overwhelmed and bankruptcy seems like the only option. We are here to help.
Bankruptcy is a legal process, in the U.S. Federal Courts to help debtors (people who owe money) get relief from the debts they cannot pay and, at the same time, help creditors (people who are owed money) get some payment from whatever property or assets, if any, the debtor has which he or she does not need to live. If you have filed Bankruptcy before, you cannot repeat file bankruptcy for a minimum of 8 years.
Deciding to file for bankruptcy is a very tough decision. You may be feeling overwhelmed and bankruptcy seems like the only option. But think about the decision carefully because it can really affect your financial life for a long time. Also, bankruptcy does not always remove all debt, and there are certain types of debt (i.e., taxes, student loans, etc…) which cannot be discharged (eliminated) by the bankruptcy process.
Bankruptcy may not always work to save your home or property, so you need to get advice from a bankruptcy lawyer about whether or not bankruptcy is a good option for you. Since there are different types of bankruptcy, one may be better for you than another, or ultimately, bankruptcy may not be a good solution for your type of financial problems at all.
Chapter 7 is the most common form of bankruptcy for individuals. It is a liquidation bankruptcy, which means that the court sells all your assets for cash and then pays your creditors. Generally, you can keep assets that are exempt from sale either under federal law or the law of your home state. Chapter 7 Bankruptcy can wipe out most of your debts. There is a “means test” for filing this type of bankruptcy. You must make less than a certain amount of money. Talk to a lawyer to see if you qualify for this type of bankruptcy. You cannot repeat this type of bankruptcy filing for 6 years.
A discharge of debts under Chapter 7 Bankruptcy can wipe out most of your debts.
Since 2005, Chapter 7 requires a “means test” for filing this type of bankruptcy. You must make less than a certain amount of money based on bankruptcy legal guidelines.