Chapter 7 Bankruptcy
Filing in Rancho Cucamonga
At Atlantis Law, the team has been able to assist countless individuals
in achieving their financial goals. By retaining the firm's team,
you can begin the bankruptcy process and work toward a financially free
future. Chapter 7 bankruptcy is also known as liquidation bankruptcy and
provides relief to individuals facing extreme debt. In a Chapter 7 bankruptcy,
all non-exempt assets may be sold to payoff unsecured debts. Unsecured
debts can include mortgages, auto loans, credit card debt and medical
bills. You may choose to retain some debt, such as auto loans and mortgages,
in order to keep your property but choosing to retain this debt is completely
up to you, and you may need the advice of your attorney.
Chapter 7 bankruptcy is reserved for individuals who are no longer able
to make even minimal payments on their balances in order to become debt-free.
It is usually reserved for individuals who can meet all the qualifications
for bankruptcy in a Chapter 7 means test. When you work with an attorney
from Atlantis Law, they will ask you to provide basic information and
documentation proving your financial hardships and will require you to
take a means test. This test is used to determine your current monthly
income that you receive. If your income is below the median for the household
size and state that you live in, you may be determined eligible to file
a Chapter 7 bankruptcy. If you do not pass the means test however, you
can still file under
Benefits of Filing for Liquidation Bankruptcy
In a liquidation bankruptcy, all items that may be considered as non-exempt,
such as boats and vacation homes, will be sold to pay back det. This form
of liquidating assets will give the honest debtor a fresh start on financial
freedom. The moment you file, all harassing creditor calls and collection
attempts will cease and the
foreclosure process will have an immediate hold placed on it. Within four weeks of
filing, you and your attorney will attend a meeting of creditors, which
is a very informal meeting that helps the creditors approve your bankruptcy.
Approximately 60 to 90 days after filing, a discharge order will be received
from the court officially eliminating all dischargeable debts named in
your bankruptcy petition. After this order is received, you can begin
to move forward with your life and
rebuild your credit.
Atlantis Law has an extremely successful track record, and
every Chapter 7 case that has been submitted by their team has gone through
successfully. When you work with Atlantis Law, the team will work hard to help you
determine if Chapter 7 bankruptcy is right for you and help you understand
the benefits that may come from filing. The moment you are considering
bankruptcy or if you have been constantly harassed by creditors for payments,
you need to contact a Rancho Cucamonga bankruptcy attorney right away.
Atlantis Law's ultimate goal is help you through personalized service
and work with you to obtain a positive outcome for your bankruptcy case.
If you have questions or concerns, go ahead and give the team a call.
Contact the firm by completing a
free case evaluation form or by phoning them directly. You deserve to work with an understanding
legal team! You deserve to work with Atlantis Law.