Chula Vista Chapter 7 Lawyer – Chula Vista Chapter 7 Attorney
Recently, we have been getting quite a few questions about Chapter 7 bankruptcy filing. We wanted to dedicate this post to address some of the more common questions. If you have more questions we encourage you to call an experienced Chapter 7 attorney.
A Chapter 7 bankruptcy does what?
A Chapter 7 bankruptcy is a liquidation. In other words, your non exempt assets become part of the debt relief estate in order to pay off your creditors. I want you to understand that most of your assets are exempt so don’t be scared. We rarely ever have people loose their assets in a Chapter 7. One of the great things about debt relief filing is that it wipes out all your unsecured debt.
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Does filing for Chapter 7 bankruptcy stop creditor harassment?
Yes, a Chula Vista Chapter7 will stop all creditor harassment. A debt relief filing has a powerful tool called the automatic stay. When you file your debt relief plan, the court essentially orders your creditors to stop any further collection action and all creditor harassment. If you creditors continue to collect on a debt or continue to harass you, they will be subject to very serious penalties and fines.
What debts can I get rid of in a Chapter 7?
The policy behind a Chapter 7 bankruptcy is to give honest citizens a fresh start and financial freedom. With that said, almost all unsecured debts can be eliminated in bankruptcy. The most common debts are credit cars, wage garnishment, judgments, personal loans, medical bills and cash advances. There are exceptions to any rule, but your Chapter 7 bankruptcy lawyer will advise as to which debts are dischargeable and which are not.
What debts can I not get rid of in a Chapter 7?
There are a limited number of unsecured debts that you will not be able to eliminate in a Chapter 7 bankruptcy. The most common are student loans. Yes, you can discharge student loan obligations, but you will have to show “undue hardship” which is an extremely high standard to meet. The best solution is to deal with you student loans in a Chapter 13 bankruptcy.
Next are judgments that are based on fraud or intentional conduct. This is a very sticky are of the law that is open to much interpretation. Just because it seems, on its face, to be non dischargeable, do not necessarily mean it is. You must consult with your Chula Vista bankruptcy attorney to make sure.
Finally, there is a public policy that we do not discharge child support payments.
What if I don’t qualify for a Chapter 7 bankruptcy what can I do?
If you do not qualify for Chapter 7 for any number of reasons, you will still have the option of pursuing a Chapter 13. A Chapter 13 is a reorganization of your debts whereby the bankruptcy trustee pays your creditors out of a plan your propose. If you can continue to make your plan payments your debts will be discharged within three to five years. Contact an experienced Chapter 13 attorney to see if Chapter 13 is right for you.
We at the Law Office of Harold D. Thompson are Chula Vista Chapter 7 lawyer dedicated to helping you get out of financial distress. If your debts are piling up and you are looking for a “fresh start” call a Chula Vista Chapter 7 attorney that will fight for your rights to stop creditor harassment in San Diego. Bankruptcy fees start as low as $800.00. Don’t be fooled by big advertisers charging thousands of dollars. Call us TODAY at 1.888.590.1773 or visit one of our other websites at San Diego Bankruptcy Lawyers or Orange County Bankruptcy Lawyers or Riverside Bankruptcy Lawyers.
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