When You Need a Fresh Financial Start
Are you struggling with debt you can't possibly pay off? Are you making enough money to cover your living expenses, but not much more? If so, Chapter 7 bankruptcy could allow you to discharge your debts and make a fresh financial start.
At Boyd Contreras, LLP, we understand the decision to file bankruptcy is a major one. That's why we will give you the tools necessary to decide if it is the right choice for you. Contact us at our office in San Diego to schedule a free initial consultation and learn about your debt relief options.
How Does Chapter 7 Bankruptcy Work?
In Chapter 7 bankruptcy, or liquidation bankruptcy, most of your unsecured debt is discharged or eliminated. This includes:
- Credit card debt
- Medical expenses
- Personal loans (not student loans)
- Certain judgments
- Some taxes
- Other qualifying debt
With Chapter 7 bankruptcy, you will be allowed to keep your clothing, most furniture and the majority of your personal belongings. You may also be able to retain your financed vehicle or home, provided you can continue to make payments on them.
Not all debt can be discharged through a Chapter 7 bankruptcy, however. Student loans, child support payments, certain taxes and specific judgments cannot be discharged. However, with your other debt erased, you will be in a much better position to pay these non-dischargeable expenses.
The Means Test
To determine whether or not you are eligible for Chapter 7 bankruptcy, or if you qualify for Chapter 13 bankruptcy instead, the court requires you to undergo something called a means test. This evaluation takes your income and living expenses into consideration and balances them against your debt level. To learn if you are qualified to file Chapter 7 bankruptcy, contact our office to schedule a confidential consultation.
How Can An Attorney Help?
At Boyd Contreras, LLP, we will help protect your assets by identifying as many exemptions as possible, allowing you to keep more of your personal belongings. Also, we have in-depth knowledge of the bankruptcy process, so we are able to file the appropriate paperwork in a timely manner and represent you at any hearings.
Allow Yourself to Start Over
You don't have to live with the stress and frustration overwhelming debt can cause. Contact us online or call our office locally at 619-378-4033 or at 949-242-0656 to schedule a free confidential consultation with a knowledgeable California bankruptcy lawyer.
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