Chapter 7 Bankruptcy

Irvine Bankruptcy Lawyer

Individuals who have found themselves with more bills than they can pay may find that filing for bankruptcy is a solution for their debt problems.  Chapter 7 bankruptcy is a debt cancelation program that can eliminate all of a person's debt, with a few exceptions.  It is designed for individuals and businesses that have few assets and insufficient income to pay off their unsecured debt.  Anyone wanting to find out if they qualify for Chapter 7 bankruptcy should speak with an Irvine bankruptcy lawyer at the Law Offices of Arthur H. Hausmann.  It is the most common form of bankruptcy and, after submitting a complete statement of all assets, debts and income, can be completed in as little as 4 months. An attorney can explain the benefits of Chapter 7 and how to qualify by taking the means test.

Not all of a person's debts can be discharged through Chapter 7.  Some debts, such as child support, taxes and student loans will not be canceled.  Any unsecured debts such as credit cards, medical bills and utility bills will be eliminated.  Getting the help of an experienced bankruptcy lawyer will help get a person through all the steps of a Chapter 7 bankruptcy smoothly and efficiently.  Once the process is begun, all creditors and bill collectors will be instructed to stop any further collection calls or letters.  For most people, this brings a feeling of great relief and a sense that their life can change for the better.

Bankruptcy Attorney in Irvine

Another benefit of Chapter 7 bankruptcy is that most of an individual's personal assets will be protected.  Assets such as personal possessions, furniture and clothing, along with tools and a vehicle will normally be exempt.  Any non-exempt assets will be sold by the court to settle as much debt as possible.  All remaining debt will be discharged (eliminated) by the court at the conclusion of the bankruptcy proceedings.  The relief of being free from all debt can allow a person to start fresh and reorganize their new life without the fear of bill collectors constantly calling.  Having the help and advise of an experienced bankruptcy attorney can make the process much easier.  The firm also services clients residing in Huntington Beach, Costa Mesa, Anaheim and Santa Ana.

Contact an Irvine bankruptcy lawyer to get more information about Chapter 7 consumer bankruptcy protection.  Discover how to eliminate debt and get a new start in life.