Chapter 7 Bankruptcy Attorney in Fresno, CA
Let Us Help You File for Chapter 7 in Fresno County
If you're buried in debt and can see no light at the end of the tunnel, it may be time to consider filing for bankruptcy. For those living in Fresno and the surrounding areas, Fear Waddell, P.C. is a great place to start. Our Fresno debt relief lawyers are problem solvers through and through. We will explain all of your options for getting out of debt and help you identify the one that suits you.
Reasons To Choose Our Fresno Law Office
- Extensively Experienced Lawyers
- 1,000+ Bankruptcy Cases Successfully Handled
- Free Consumer Case Consultations Provided
- Board Certified Legal Professionals
What is Chapter 7 Bankruptcy?
The most straightforward form of bankruptcy is known as Chapter 7. Chapter 7 is typically preferred because you are able to disregard your debt without having to make payments. There is no limit to the amount of debt you need in order to qualify. In exchange for the liquidation of your non-exempt assets, it can provide the near total elimination of debt in just a few short months. To determine which assets are exempt and which assets are not, the state of California uses two exemption systems. The filer must choose which of the two to use. Generally speaking, System 1 is a better fit for those with substantial home equity, and System 2 makes more sense for those whose wealth lies elsewhere.
Who is Eligible for Chapter 7 Bankruptcy?
There are many requirements when it comes to eligibility for filing Chapter 7:
- You must be an individual, a spouse, or a business entity (partnership, corporation, or limited liability company).
- You must pass the "means "test". This determines if your monthly income exceeds the California state median and if your disposable income falls below a certain level. If you do not pass, Chapter 13 may be an option.
- You must complete a credit counseling course 180 days before filing.
- You must pay the filing fee to the Bankruptcy Court.
What Are the Benefits of Filing Chapter 7?The advantages of Chapter 7 include:
- Freeing yourself from major debts in as little as 3 months
- Halting foreclosure
- Stopping creditor harassment in its tracks
- Keeping your house and car
- Getting a chance to rebuild your credit score
Tell us about your particular situation in a free consumer case evaluation and we can get back to you with helpful advice.
How Soon After Filing Chapter 7 Can You File Again?
With Chapter 7 bankruptcy you will have to wait for eight years before you are able to file for Chapter 7 again. This is because you do not have to repay your dischargeable debt. The eight year waiting period starts on the original filing date and you can file up to three times in your life.
How We Can Help You!
Facing financial challenges can be overwhelming, and when debts spiral out of control, seeking a fresh start through Chapter 7 bankruptcy might be a viable solution. In such circumstances, having a knowledgeable Chapter 7 bankruptcy lawyer by your side can make a significant difference. Here's how these legal professionals can assist you:
- Financial Assessment: Your lawyer will conduct a thorough evaluation of your financial situation, determining if Chapter 7 is the best fit.
- Eligibility Guidance: Receive expert advice on eligibility criteria, including income and means tests.
- Asset Protection: Navigate exemption laws with your lawyer to protect your assets and maximize what you retain.
- Document Handling: Let your lawyer handle the meticulous paperwork, ensuring accurate and timely filing.
- Creditor Communication: Your lawyer can communicate with creditors, relieving you of the stress of constant contact and negotiations.
- Representation at Proceedings: Count on your lawyer to represent you at meetings and hearings, safeguarding your rights.
- Post-Bankruptcy Guidance: Even after discharge, your lawyer can provide valuable advice on rebuilding credit and financial stability.
Retain Our Experienced Bankruptcy Attorneys Today
Fear Waddell, P.C. employs the skills of two attorneys who are certified specialists in bankruptcy law by the State Bar of California. When it comes to getting out of debt as quickly and efficiently as possible, you'd be hard-pressed to find anyone better. We have filed more than 1,000 Chapter 7, Chapter 11 and Chapter 13 bankruptcy cases in the last ten years. If you're ready to join the ranks of those we've freed from the overwhelming burden of debt, call our Fresno bankruptcy attorney today!
- How to Rebuild Credit After Chapter 7
- Timeline for a Chapter 7 Bankruptcy
- Should I Reaffirm My Mortgage in a Chapter 7 Bankruptcy?
- Should I File a Chapter 7 or a Chapter 13 Bankruptcy?
Board Certified Bankruptcy Attorneys
Free Consumer Consultations
1,000+ Bankruptcy Case Filings
Decades of Combined Legal Experience