Chapter 7 Bankruptcy Attorney In Fresno

Contact Us Today At (559) 418-3022

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 bankruptcy 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.

About Chapter 7 Bankruptcy

The most straightforward form of bankruptcy is known as Chapter 7. 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 qualify for a Chapter 7 bankruptcy, your monthly income must not exceed the California state median, and your disposable income must fall below a certain level. To determine if your income is eligible, you can take what is known as a “means test” to see if you qualify.

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.

The advantages of a Chapter 7 filing 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

Experienced Fresno Bankruptcy Attorney

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 us today!