Chapter 7 & 13 Bankruptcy Preparation Services

Brilliant bankruptcy assistance

There’s a huge difference between Chapter 7 bankruptcy and Chapter 13, but you may not even qualify for each type. You don’t want to rush in on your own and find out you’ve been paying legal fees for a protection you won’t receive. You can count on us to find the best solution for you!

Chapter 7 Bankruptcy

Chapter 7 bankruptcy is a liquidation process the debtor’s non-exempt assets. These Nonexempt Properties becomes property of your bankruptcy estate. A Chapter 7 trustee has a duty to determine how much property you own and if  your assets should be sold to pay off your creditors. Chapter 7 is generally the simplest and fastest form of bankruptcy and is available to individuals, married couples, corporations and partnerships.

In this extreme economy bankruptcy is progressively turning into a practical alternative for some people, families and organizations. The objective of a bankruptcy documenting differs starting with one account holder then onto the next, and relies on upon whether a chapter 7, 11 or 13 bankruptcy is being recorded. We comprehend our customer’s needs and try to give quality service at a reasonable cost for our customers to record bankruptcy and escape obligation.

We need to make your Bankruptcy procedure appear to be straightforward and simple, you can depend on us to take care of business rapidly. We are here to answer every one of your inquiries and ensure you comprehend the bankruptcy procedure. In particular, we need to show you how to work back your credit. We won’t take a penny from you unless we are sure that you can record bankruptcy and release the greater part of your obligation in a chapter 7 bankruptcy.

For a few people, bankruptcy might be a troublesome decision. In the event that you are battling and thinking whether you ought to petition for bankruptcy, put forth the accompanying inquiries:

• Are your credit card accounts more than 30 days late?
• Do you only make the minimum payment?
• Do you have multiple mortgages on your house?
• Have you maxed out the credit limit on one or more of your credit cards?
• Have you borrowed money to pay off your credit cards?
• Do you live paycheck to paycheck?
• Have you borrowed money from family, friends, and neighbors to meet obligations?
• Are you behind on your mortgage or car payments?
• Is your house in foreclosure?

On the off chance that you have addressed yes to more than one of these question then you might need to counsel with us in regards to petitioning for bankruptcy. People can petition for bankruptcy security under Chapter 7, Chapter 11, and Chapter 13 of the Federal Bankruptcy Code. The following is a brief portrayal of the chapter 7 bankruptcy process.

Bankruptcy: Chapter 7

In a Chapter 7 bankruptcy, the greater part of your dis-chargeable obligations are dispensed with. This incorporates charge card obligations and individual advances. Secured lenders, for example, your home loan and auto advances, must keep on being paid on the off chance that you plan to keep the property. You need to choice of surrendering even secured properties on the off chance that you pick you would prefer not to keep them.

Bankruptcy builds up a legitimate status wherein an individual or business is no more ready to pay off its obligations. Once a person files for bankruptcy that person(s) is shielded from lenders making irritating telephone calls and gathering on monies owed. Claims are likewise “stayed” by petitioning for bankruptcy, therefore, leasers in pending case against you can’t continue and no doubt once the obligation is release the pending case will be rejected.

When you hear the word bankruptcy numerous individuals think about a Chapter 7 bankruptcy is. A Chapter 7, or straight bankruptcy, can furnish families and people with obligation alleviation in around 3 months. We ensure the procedure is not upsetting and streamline every progression for you to be alright with the genuine feelings of serenity that everything will go easily.

Numerous individuals accept that by documenting bankruptcy they will lose all that they possess. These vulnerabilities are regularly misrepresented. Truth be told, numerous individuals don’t understand that in a chapter 7 bankruptcy you could keep any obligation you need by a straightforward reaffirmation assention. That implies you can keep your home, your auto or even a Visa at your prudence insofar as the property is excluded from bankruptcy.

Chapter 13 Bankruptcy

A chapter 13 bankruptcy enables individuals with regular income to create a plan to repay their debts. Under chapter 13 bankruptcy, debtors propose a repayment plan to make installments to creditors over an agreed upon number of years. In no case may a plan exceed a period longer than five years. Chapter 13 bankruptcy discusses six aspects of a chapter 13 proceeding: the advantages of choosing chapter 13, how a chapter 13 proceeding works, the chapter 13 eligibility requirements, making the plan work, and the special chapter 13 discharge.

Qualification for Bankruptcy

In the U.S., bankruptcy laws are laid out in Title 11 of the United States Code, referred to the greater part of us as the Bankruptcy Code. In October of 2005 the bankruptcy laws were changed and were intended to make the framework more secure and more proficient for both account holders and loan holders. The updated Code now represents all bankruptcy filings and procedures in the nation, both for shoppers and organizations. Applicants for Chapter 7 bankruptcy are currently should fit the bill for bankruptcy before recording. The capability is done through a methods test, we won’t exhaust you with the points of interest of what the methods test require yet in the event that you call us now and we can furnish you with a FREE means test capability conference to ensure you fit the bill for a chapter 7 bankruptcy.
We’ll guide you to your best solution

Even if bankruptcy isn’t the best fit, you might qualify for debt consolidation or credit repair. Allow us to assist you as some of these companies use very questionable practices that can get you into trouble. Let us guide you through the right way to getting yourself back on financial track!

Please call us for a FREE consultation to see if filing bankruptcy is the best way for you to get a clean start for the rest of your life.

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Disclaimer: This office does not employ attorneys and is not authorized to practice law in the State of California. At certain times, we refer our clients to various attorneys, authorized to practice law in the State of California and as certified paralegals, are employed by such attorneys.