CHAPTER 7 BANKRUPTCY
In Chino Hills, Chapter 7 bankruptcy, sometimes referred to as a “liquidation” bankruptcy, is a viable option for those who feel as though they are constantly put under duress from lenders and creditors. For those who are unaware of how they can possibly relieve themselves of their debts, filing for Chapter 7 bankruptcy in Chino Hills might be the most sensible path to take if they can qualify. This form of bankruptcy is designed to wipe out select debts that would potentially provide relief from such distressing restraints. It is meant for those individuals who find themselves in significant financial trouble, and who are actively seeking to turn their situation around.
This form of bankruptcy is designed with those in mind who might be suffering from the weight of credit card debt, personal loans, or immense medical bills. Though it is commonplace to believe that declaring this form of bankruptcy will leave the individual with nothing after liquidation. The truth of the matter is that most, if not all, of the individual’s assets, will be protected while simultaneously removing potentially thousands of dollars in debt. With Chapter 7, a fresh start is entirely possible.
Specific requirements must be met in order to establish eligibility to qualify for Chapter 7 bankruptcy. These requirements surround the topics of your income and both the size and the types of debts that have been accrued, among other similar details. In Chino Hills, your eligibility can be determined by a qualified bankruptcy attorney. This attorney can then provide you with adequate guidance before you choose to file. The Law Office of W. Derek May can work closely with you to help you navigate through Chapter 7 bankruptcy. Declaring Chapter 7 bankruptcy can provide relief from harassing phone calls from creditors and the stress of crushing debts.