Chapter 7 Bankruptcy | Chapter 13 Bankruptcy
We at Simple Legal Solutions, offer Debt Relief for consumers that need a fresh start! If you are facing foreclosure on your property, we can help you file an EMERGENCY petition and STOP the sale within 24 hours, if not less. All of our Bankruptcies are handled by an attorney and you will be represented by an attorney from beginning to the end of your case.
Chapter 7 Bankruptcy
Chapter 7 bankruptcy, sometimes called a straight bankruptcy, is a liquidation proceeding. The debtor turns over all non-exempt property to the bankruptcy trustee who then converts it to cash for distribution to the creditors. The debtor receives a discharge of all dischargeable debts usually within four months. In the vast majority of cases the debtor has no assets that he would lose so Chapter 7 bankruptcy will give that person a relatively quick fresh start.
One of the main purposes of Bankruptcy Law is to give a person, who is hopelessly burdened with debt, a fresh start by wiping out his or her debts.
There has been much doom and gloom written about the bankruptcy means test under the new laws and how much more difficult it’s going to be to file Chapter 7 bankruptcy. It’s true that there are more hoops to jump through under the new laws and it’s true that the bankruptcy means test will result in some people having to file chapter 13 instead of Chapter 7 bankruptcy.
However, for the vast majority of filers Chapter 7 is still available with very little extra effort!
Chapter 13 Bankruptcy
Chapter 13 Bankruptcy is also known as a reorganization bankruptcy. You can also LIEN STRIP your second mortgage if you are upside down! Chapter 13 bankruptcy is filed by individuals who want to pay off their debts over a period of three to five years. Chapter 13 bankruptcy appeals to individuals who have non-exempt property that they want to keep. It is also only an option for individuals who have predictable income and whose income is sufficient to pay their reasonable expenses with some amount left over to pay off their debts.
Where To Find Simple Legal Solutions?
LEGAL ASSISTANCE, BANKRUPTCY, DIVORCE, EVICTION | SANTA ANA, CA
Where to Find Simple Legal Solutions
Simple Legal Solutions, Inc hours of operation are Monday through Friday 9 am to 5 pm. We do not make same day appointment if needed.
Contact us today in Santa Ana, California, for more information about our legal assistance services.
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Ocean Shores, WA
Ocean Shores, WA
Santa Ana, CA
Santa Ana, CA
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in Santa Ana, California, for more information
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