Seaside, CA Bankruptcy Lawyers
If you find yourself weighed down by debts that you cannot pay, filing for Chapter 7 bankruptcy may be a solution so that you can get a fresh financial start. Chapter 7 bankruptcy is a process that allows you, the debtor, to be relieved of debts while paying your creditors with assets that are not exempt and necessary for you to live. In other words, the court will liquidate certain assets and use the funds to pay your creditors, if they are beyond the exemptions that the Court allows.
If you are considering Chapter 7 Bankruptcy, an experienced Seaside, CA bankruptcy lawyer can help you to decide whether this is the right path for you and advise you what to expect. You want the right attorney guiding you through this process.
Chapter 7 Overview
Chapter 7 bankruptcy wipes out your unsecured debts in exchange for the liquidation of certain property and assets. The process begins with your bankruptcy lawyer ensuring that you qualify and preparing your bankruptcy petition and supporting documents to file with the court.
Filing your petition initiates your case and puts in place the automatic stay. This is a court order preventing any creditors from engaging in collection activity during your case unless they seek and obtain special permission from the court. Actions that are halted include:
- Collection calls and letters
- Civil lawsuits
- Wage garnishment
- Utility shut-offs
Having all of the above paused can provide immediate relief for you and your household.
When filing for bankruptcy, there are certain assets or property that you can exempt to prevent them from being sold to pay creditors. While some states allow you to choose between state and federal exemptions, California will require you to use state exemptions. Additionally, where some states allow spouses to double exemptions, California prohibits such with some exceptions. This makes it imperative to have legal assistance when it comes to applying exemptions. Some people do not lose any property in Chapter 7 bankruptcy due to properly applied exemptions.
At the end of a successful Chapter 7 case, the judge will discharge your qualified debts. These can include the following and more:
- Credit cards
- Unsecured loans
- Loans from family or friends
- Medical bills
- Benefit overpayments
- Most civil judgments
- Some tax debts
- Unpaid rent
- Past-due utility payments
You want a lawyer who will take the necessary steps and address any possible complications to ensure you receive a successful discharge of your debts. While most cases go smoothly, there are also many opportunities for things to go wrong, and we can help prevent unnecessary delays.
Are You Considering Filing for Chapter 7 Bankruptcy? Contact a Seaside, CA Bankruptcy Lawyer
If you are considering filing for Chapter 7 Bankruptcy, call the Seaside bankruptcy lawyers at Miranda, Magden & Miranda, LLP. Our experienced lawyers will help you decide whether bankruptcy is the right course of action for you to find the financial relief and fresh start that you deserve. Contact us today to schedule your consultation, so we can begin assessing your options and helping you take back control of your finances.