Orange County Chapter 7 Lawyer
Declaring Complete Bankruptcy
Both an individual and a business can declare Chapter 7
bankruptcy. When an individual chooses to file Chapter 7, it is called a consumer
Chapter 7 bankruptcy.
If you are totally unable to meet the payments that are inundating you
and your family, you may want to consider Chapter 7 bankruptcy as an option
to erase your debt and free you from harassing letters, calls, emails
and other contact from creditors and debt collectors.
It can be upsetting and worrying to think about declaring bankruptcy –
but the attorneys at
The Law Office of Bruce C. Bridgman want you to know that it doesn’t have to be a terrifying prospect.
Bankruptcy is a legal process that the United States government has set
forth to allow individuals just like you who are struggling to make impossible
payments on debts to clean the slate and start anew.
With the help of an
Orange County Chapter 7 bankruptcy lawyer at
Mr. Bridgman’s law firm, you can go through the procedure as quickly and efficiently
as possible in order to get your life back on track.
Contact us to schedule your free consultation with our Orange County Chapter 7 attorney today!
What Is Chapter 7 / "Straight" Bankruptcy?
This is a type of bankruptcy that is often referred to as "straight
bankruptcy" or "liquidation". Typically recommended for
debtors with little to no income who do not have a lot of property that
needs protection, Chapter 7 involves the liquidation of non-exempt assets
to pay creditors.
This form of bankruptcy involves a few key factors:
A debtor must qualify to file by passing the means test, which evaluates
his or her income and income versus expenses to determine whether he or
she has the "means" to make payments under a
Chapter 13 repayment plan.
Though "liquidation" is involved in a Chapter 7 filing, not all
of the debtor's assets and property will be affected. Many debtors
are able to keep most or all of their property under California
- This is typically the fastest form of bankruptcy, with a case complete
and all eligible debt discharged within 6 months or less.
Filing under Chapter 7 of the U.S. Bankruptcy Code will place an automatic
stay on all debt collection proceedings and lawsuits against a debtor.
Upon the successful resolution of the case, all of the debtor's unsecured
debt will be discharged, meaning the debtor will have no further obligation
to pay it. You can learn more about this type of debt relief by talking
to an Orange County bankruptcy attorney at our law offices.
Contact the Orange County Bankruptcy Attorneys at Our Firm!
There is nothing to be embarrassed, worried, anxious or upset about when
you find that you have to declare Chapter 7. It is a legal way to finally
handle your financial worries and stresses that allows you to keep the
majority of your property, belongings and other assets under certain exemptions.
You will almost certainly be able to keep your home, car, heirloom property,
belongings and other possessions that you need.
How We Can Help
If you have any questions or concerns about bankruptcy, it is in your best
interests to speak with someone who has definitive answers and the advice
that you need. Our Chapter 7 bankruptcy lawyers are very experienced in
handling this procedure. If you are looking for an attorney who will be
able to help you with exactly what you need assistance with a professional,
courteous, compassionate and effective manner, you are looking in the
For more information on Chapter 7 Bankruptcy in Orange Country,
contact our firm today!