Chapter 7 bankruptcy is designed to relieve you of debts. The most common debts that are discharged in chapter 7 are credit cards, money judgments, payday loans, lawsuits, personal loans, and most other ordinary debts. The chapter 7 case when filed with the Bankruptcy Court immediately provides you with an automatic stay. The automatic stay is designed to stop creditors from taking action against you and against your property. The automatic stay stops foreclosures, trustee's sales, repossessions, wage garnishments, bank levies lawsuits, debt collection, and other creditor actions. Chapter 7 bankruptcy is the most common type of case filed in the Bankruptcy Court.
Consult with me to discuss which type of bankruptcy is right for you. An experienced certified bankruptcy attorney like me can discuss with you the specific circumstances for your case and if a chapter 7 case is right for you.
In chapter 7, a chapter 7 trustee is appointed to determine whether non-exempt personal and real property is available in your case to sell and to pay your creditors. In chapter 7, you are allowed to protect your assets with a list of exemptions provided by law to limit or prevent the sale of assets. Consult with me in Orange County, California, to discuss proper exemption planning to protect your assets in chapter 7. Seek consultation and advice from a certified bankruptcy lawyer to discuss the different types of bankruptcy (chapters 7, 11, and 13) and which one is right for you.
Chapter 7 bankruptcy is designed to provide you with a fresh start. A discharge in bankruptcy a the legal excuse from paying your debts. The exceptions to a discharge in bankruptcy include domestic support obligations, taxes, and student loans, to name a few. Reach out to me to learn about the exceptions to debts that are not subject to be discharged by the bankruptcy code. I'm proud to serve individuals throughout Southern California, including Orange County, Santa Ana, San Bernardino, and the Los Angeles area.