A Chapter 7 bankruptcy filing virtually wipes out a person’s debt, giving them the chance to start with a clean slate. The option to file a Chapter 7 is a legal right that every citizen has, if they meet certain criteria. An experienced attorney can help determine which form of bankruptcy is right for an individual. Some debts such as government loans and fines are not allowed to be included in a bankruptcy filing.
Once a person files for Chapter 7 bankruptcy protection, their creditors are not allowed to continue contact or harass for payments. Collection calls and any other legal action is stopped while the filing is reviewed. During this time, creditors will be allowed to speak to the court and the petitioner, to ask for any property that is unpaid for to be returned.
The bankruptcy trustee will have the right to order any assets the petitioner currently has to be sold. The monies earned will be distributed to debtors on a priority basis. An attorney can protect a petitioner’s best interest in the case of any auction or seizing of assets. Once the conditions have been met, the U.S. Bankruptcy Court will officially discharge the debt.
We can answer all your questions regarding filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. If you need help regarding a bankruptcy in California, call us at 1800.941.6730 and we will be more than happy to offer you a free consultation over the phone. You can also fill out a free online evaluation at our website, www.sagarialaw.com, or request a free face to face appointment at a Sagaria Law office location close to you. We have bankruptcy attorneys located throughout California and Oregon to assist you with all your debt resolution needs.
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