Chapter 7 Bankruptcy | Are You Considering Bankruptcy?

Chapter 7 Bankruptcy | If someone has more debt than they can reasonably pay back, they may decide to file for bankruptcy. Filing for bankruptcy lets people eliminate most or all of their debt, which allows them to start with a fresh financial slate. In addition to getting out from under enormous financial obligations, filing for bankruptcy can also help people save their homes from foreclosure and stop wage garnishments.

Once an individual files for bankruptcy, it can also put an end to filing for bankruptcy can help repair damaged credit scores as well annoying calls and threats from creditors. With proper financial management following a bankruptcy, people can quickly rebuild their credit, and individuals may be able to obtain a home loan within just two.The most popular type of bankruptcy filing for individuals is Chapter 7 Bankruptcy. Chapter 7 Bankruptcy is designed to discharge a persons unsecured debts, leaving them with no obligation to pay creditors back once the filing is completed.

This type of filing generally covers credit card debt and medical bills, and it can free up a person's income and allow them to start paying back secured debt, like home and car loans. A Chapter 13 filing allows someone to reorganize their debt. People are able to create a payment plan and make a single payment each month to a court-appointed official. This process normally takes between three and five years, and it is often used to help people keep a home that is being foreclosed upon. If an individual wants to get the most out of a bankruptcy filing, it may be a good idea to work with a bankruptcy attorney. A bankruptcy attorney could explain how the process works and help individuals understand things like means testing and what determines if a particular debt is eligible for discharge.

The Bakersfield division of the Bankruptcy Court covers all of Kern and Inyo Counties.  I represent clients residing in Bakersfield, Taft, Maricopa, Buttonwillow, Wasco, McFarland, Shafter, Delano, Frazier Park, Lebec, Tehachapi, Mojave, Ridgecrest, California City, Bishop, Lone Pine  and all other parts of Kern and Inyo Counties

Call D. Max Gardner Chapter 7 Bankruptcy Lawyer -Today: 661-888-4335