Take the First Step
Are you ready to explore your bankruptcy options? We invite you to reach out and discuss your situation in a confidential consultation. Contact us today to get started on your journey toward a debt-free future.
Chapter 7
Chapter 7 bankruptcy is a solution for many individuals and families facing overwhelming debt, Bankruptcy, vehicle repossession, wage garnishment, bank levy, and eviction. It allows you to eliminate most unsecured debts, like credit cards and medical bills, stop any creditor harassment and start fresh. About 80% of bankruptcy cases filed are under Chapter 7, as it offers a clean slate while helping you keep your assets. We will work directly with you to determine if Chapter 7 is right for your situation. If it is, we’ll take immediate action to stop creditor harassment and help you eliminate your debt while protecting your property.
Although Chapter 7 is sometimes referred to as “liquidation bankruptcy,” most of our clients are able to keep their property. California offers several exemptions that protect assets like your home, car, and personal belongings. we’ll help you choose the best exemption strategy, ensuring you retain as much of your property as possible.
Chapter 7 Eligibility:
Chapter 7 bankruptcy may be available to you regardless of how much debt you have. The main eligibility factor is your income. If your income falls below your state's median for your household size, you qualify for Chapter 7 automatically. If your income is higher, you may still be eligible, but will need to pass a means test that evaluates your disposable income after household expenses. we’ll help you understand if you qualify and plan appropriately, even if you have non-exempt assets.
What Can We Can Do for You:
- Assess your eligibility for Chapter 7 bankruptcy
- Provide necessary pre-petition planning tailored to your needs
- Complete and file all necessary documents
- Protect your assets.
- Prepare you for a hearing, “the meeting of the creditors,” and assist you at the hearing.
- Guide you through every step of eliminating covered debts and moving forward financially
Debts Covered in Chapter 7:
In Chapter 7 bankruptcy, most unsecured debts are discharged, meaning you no longer must pay them. These include credit card debt, medical bills, personal loans. Some of the debts that are generally not dischargeable such as debts for alimony, maintenance, or support, and certain other divorce related debts, including property settlement debts; Student loans; Debts for certain penalties and fines;
This is only a few examples of non-dischargeable debts and there are exceptions, which may mean even these debts are dischargeable. A qualified California bankruptcy lawyer can let you know if you have any assets that are not dischargeable or whether exceptions apply in your case. We’ll ensure that you get the maximum relief from your debts, giving you a true fresh start.
Meeting of the Creditors
The bankruptcy process includes a mandatory meeting with creditors. In most cases, creditors do not even attend this meeting, and an experienced lawyer will be with you to take the fear out of the process and answer any questions that might come up.
Get Help Today:
If you’re overwhelmed by debt, don't wait to get the help you deserve. We can help you assess whether Chapter 7 or Chapter 13 is best for your situation and provide expert guidance every step of the way.
Our office assists clients throughout Southern California including but not limited to the following: Santa Ana, Tustin, Fullerton, Orange, Anaheim, Irvine, Newport Beach, Costa Mesa, Fountain Valley, Huntington Beach, Westminster, Garden Grove, Orange, Buena Park, Placentia, Yorba Linda, San Clemente, Laguna Niguel and throughout Los Angeles, Riverside and San Bernardino Counties. Call today for your no obligation free initial consultation (714)584-3320.
Call today for a free consultation and begin your journey toward financial freedom.
Chapter 13
Chapter 13, often called "reorganization bankruptcy," lets you create a repayment plan over three to five years, allowing you to catch up on debt while preventing creditors from pursuing collection actions like wage garnishments or foreclosures. During this time, you can adjust your debts to a manageable level, and some debts may not need to be repaid at all.
Why Chapter 13 Bankruptcy May Be The Right Choice For You
There are several reasons why Chapter 13 bankruptcy might be a better choice for you than Chapter 7. These include if:
- Your income is too high to meet the "means test" for Chapter 7 bankruptcy.
- You have assets that would not be exempt in Chapter 7 and would have to be liquidated.
- You have debts that would not be discharged in a Chapter 7 bankruptcy.
- You are significantly behind on mortgage or car payments.
Chapter 13 is best suited for people who have steady income from employment and assets that would be liquidated during a Chapter 7 proceeding.
Chapter 13 bankruptcy can be a smart decision for people who have suffered a serious but short-term financial setback, such as an illness or job loss. Although some debts are repaid under Chapter 13, many unsecured debts — including credit card balances — end up being discharged.
We work with our clients to set up a repayment plan, under which they make payments to a trustee who divides it among several creditors according to the plan. Under most Chapter 13 bankruptcies, payment plans last from three to five years.
The advantage of filing for Chapter 13 bankruptcy protection is that it essentially gives you more time to make payments on some of your debts, while preventing banks from foreclosing on your home and putting an end to harassing phone calls from creditors. The advantage of choosing the Santa Ana Chapter 13 lawyer is our commitment to walking you through every step of the process, doing everything possible to help you start fresh.
Contact Experienced Foreclosure Attorney Serving Anaheim And Orange County |
Your path to financial relief begins the moment you contact Shakoori Law Group. We will take the time to carefully look at your financial situation and recommend the right approach. Email us today or call 310-880-2236 to schedule a free and confidential consultation.
This is a bankruptcy relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
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