Chapter 7: Erasing Unwanted Debts
A Chapter 7 bankruptcy is the most common form of bankruptcy filed in California. People filing a California Chapter 7 usually don’t have a lot of assets other than their personal possessions.Californians file a Chapter 7 bankruptcy because they can no longer pay their monthly bills. Chapter 7 bankruptcy is an ethical and legal way of dealing with their bill problems. By filing bankruptcy they are seeking to discharge their existing bills.Chapter 7 allows you to wipe out your debt fast. Dischargeable debts include such items as:
- Credit cards
- Department store cards
- Bank overdraft charges
- Medical bills
- Court Judgments
- Unsecured personal loans
- Certain taxes over 3 years old
- Overpayment of Social Security or unemployment benefits
- Deficiencies on auto repos or foreclosed homes
But be aware that child support payments and student loans are not usually dischargeable. Additionally, student loan debt is hardly ever dischargeable.Here are the most common benefits of a Chapter 7 Bankruptcy.Get Rid Of Unwanted Debt FastYou’ll be amazed at the speed in which you can get a fresh financial start. There are no payments to your creditors. I simply prepare the necessary bankruptcy documents and file your case with the court. Your debts are usually completely erased within 5 to 6 months of filing your Chapter 7 bankruptcy.Keep Your PropertyMost people are surprised at how much property they’re able to keep in a Chapter 7 bankruptcy. This includes your home, cars, retirement accounts, cash, and all household goods and furnishing.That’s because the property exemptions used in a California Chapter 7 bankruptcy are very generous. Most folks lose nothing.Get Rid of Nasty Bill Collectors ForeverAs soon as you retain me to be your bankruptcy attorney, your creditors will have to start calling me instead of you. That means I’ll take care of your creditors and you can start answering your phone and sleeping again at night.Stop Paying Bill CollectorsLets face it … you and your family are your #1 priority. How long are you willing to put your creditor’s family ahead of your own family?You can stop paying these creditors as soon as you hire me. Your creditors are prohibited by powerful federal law from contacting you or calling you after you file your Chapter 7 bankruptcy.Stop An Auto RepoChapter 7 bankruptcy will stop your creditor from taking your car as long as you file your bankruptcy prior to the car being repossessed.Stop Wage GarnishmentOnce a bill collector gets a judgment against you he can immediately move to garnish your wages. As soon as you find out your wages are being garnished you need to contact me. I can stop that wage garnishment fast. Quite often I can even get back wages that a creditor has already taken from your paycheck.Stop LawsuitsBeing sued is a very serious matter. It can result in loss of property or income. Filing bankruptcy stops your creditors from continuing to take anything away from you.Keep Your Auto and HomeLots of people have a mistaken fear that filing Chapter 7 bankruptcy means they’ll lose their cars and home. Usually this doesn’t happen.When you file Chapter 7 bankruptcy you can choose to keep your home or your car. Or … you can surrender the home or auto and owe nothing. Don’t worry – I can help you make arrangements to keep your house and car if you can continue making the monthly payment.
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