Chapter 7 Bankruptcy Attorneys in the Greater Los Angeles Area
Providing Clients with Bankruptcy Solutions
There are many reasons why you may need to file for Chapter 7 bankruptcy. You may be struggling to keep up with your mortgage payments and other debts. You may have fallen behind on your taxes and are facing mounting penalties and interest. You may also be facing foreclosure or repossession. Whatever your circumstances, you are likely feeling overwhelmed and helpless. You can take control of your financial future by filing for Chapter 7 bankruptcy.
At Papian & Adamian, our experienced attorneys have helped many people file for Chapter 7 bankruptcy. We understand that filing for bankruptcy can be a very stressful experience. However, we strive to make the process as smooth and straightforward as possible. We are here to guide you every step of the way, and answer all your questions.
If you are considering filing for Chapter 7 bankruptcy, you should know that it is not an easy process. There are many requirements that must be met, and there are many documents that must be filed. To help you through the process, we offer free consultations. During your free consultation, we will discuss your options and help you determine whether Chapter 7 bankruptcy is the best option for you. If it is, we will discuss how we will help you through the process. If it is not, we will help you explore other options.
To learn more about filing for Chapter 7 bankruptcy, call (833) 360-8605 or contact us online.
What Is Chapter 7 Bankruptcy?
Chapter 7 bankruptcy is sometimes referred to as liquidation. It is a type of bankruptcy that involves the sale of non-essential assets to pay off debts. The debtor is then allowed to retain the remaining assets and discharge the remaining debts.
Chapter 7 Bankruptcy Eligibility
To be eligible for Chapter 7 bankruptcy, you must meet certain requirements. These requirements are meant to ensure that the debtor is not abusing the system and that they are making an honest attempt to repay their debts.
You must pass the "means test." The means test is a calculation of your disposable income. If your disposable income is less than the median income for your household size, you will most likely be eligible for Chapter 7 bankruptcy.
Send us a message or call (833) 360-8605 to speak with our Greater Los Angeles Area Chapter 7 bankruptcy lawyers.
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Understanding the Benefits of Chapter 7 Bankruptcy
If you're struggling with overwhelming debt, Chapter 7 bankruptcy may be a solution to help you regain financial stability. This type of bankruptcy allows for the discharge of most unsecured debts, such as credit card debt and medical bills, while also protecting important assets like your home and car.
Some of the benefits of filing for Chapter 7 bankruptcy with Papian and Adamian include:
- Immediate relief from creditor harassment and wage garnishment
- Elimination of most unsecured debts, giving you a fresh financial start
- Protection of important assets, such as your home and car
- Guidance and support from experienced bankruptcy attorneys throughout the process
- Assistance in rebuilding your credit and regaining financial stability after bankruptcy
At Papian and Adamian, our bankruptcy attorneys are committed to helping clients in Glendale and throughout the Greater Los Angeles area find the best solutions for their financial challenges. Contact us today to schedule a free consultation and learn more about Chapter 7 bankruptcy and how it can benefit you.
Is Chapter 7 Bankruptcy Right for You?
Deciding to file for bankruptcy is a major decision that can have a significant impact on your financial future. Chapter 7 bankruptcy may be a viable option for individuals who are burdened by overwhelming debt and are looking for a fresh start. However, it's important to understand if Chapter 7 bankruptcy is the right solution for your specific situation.
Here are some factors to consider:
- Qualification: Chapter 7 bankruptcy is available to individuals who meet certain income requirements. Our experienced Glendale bankruptcy attorneys can evaluate your financial circumstances and determine if you are eligible for Chapter 7 bankruptcy.
- Debt Discharge: One of the main benefits of Chapter 7 bankruptcy is the potential to have your unsecured debts, such as credit card debt and medical bills, discharged. This means you will no longer be legally obligated to repay these debts.
- Exempt Property: While Chapter 7 bankruptcy allows for the discharge of certain debts, it also involves the liquidation of non-exempt assets to repay creditors. Our knowledgeable attorneys can help you understand which of your assets may be exempt from liquidation.
- Impact on Credit: Filing for Chapter 7 bankruptcy will have a negative impact on your credit score. However, it also provides an opportunity to rebuild your credit over time. Our bankruptcy team can guide you through the process of rebuilding your credit after bankruptcy.
At Papian and Adamian, we understand that every individual's financial situation is unique. Our compassionate bankruptcy attorneys are here to provide you with personalized guidance and support throughout the Chapter 7 bankruptcy process. Contact us today to schedule a consultation and explore your options.