Chapter 7 Bankruptcy Attorney
Consult a San Francisco Chapter 7 Bankruptcy Lawyer
For a long time, the bankruptcy laws have helped people who were unable to pay their creditors gain a much needed fresh start, but with the recent economic downturn, millions of Americans have turned to bankruptcy protection to regain financial stability and to put an end to creditor harassment.
A Chapter 7 bankruptcy is usually suitable for debtors with little or irregular monthly income and for debtors with a significant amount of unsecured debt such as medical bills and credit card debt. A Chapter 7 bankruptcy case differs from a Chapter 13 because it does not involve the filing of a repayment plan as is required under the Chapter 13. Chapter 7 wipes out debt if you qualify, and Chapter 13 is a form of “debt consolidation” bankruptcy.
Once a Chapter 7 is filed, the "automatic stay" goes into effect, which stops most collection actions against the debtor or the debtor's property. As long as the automatic stay is in effect, creditors cannot initiate or continue lawsuits, wage garnishments, or even phone calls or letters demanding payments.
Discharging Debts Through Chapter 7
The bankruptcy discharge releases the debtor from personal liability for certain types of debts, meaning the debtor is no longer legally required to pay any debts that were discharged in the bankruptcy. The discharge acts as a permanent order that prohibits creditors from attempting to collect on discharged debts and this includes having communications with the debtor about such debts. With a Chapter 7 case, the discharge typically occurs about four months after the bankruptcy is filed with the clerk of the bankruptcy court.
Not all debts are discharged in a Chapter 7 case. Those debts that cannot be discharged or "wiped out" in a Chapter 7 case include:
- Certain types of tax claims
- Spousal support/alimony
- Child support
- Debts to government entities for fines and penalties
- Certain types of tax debts
- Government funded student loans
- Debts for personal injury caused by the debtor driving while intoxicated
- Debts based on fraud
Contact a Bankruptcy Lawyer in San Francisco, CA
If you are interested in finding out if Chapter 7 is right for you, we urge you to contact a San Francisco bankruptcy attorney from Kostopoulos Bankruptcy Law right away.
Just a few reasons why we are qualified to help you include:
- Attorney Rita Kostopoulos is a certified bankruptcy specialist by the American Board of Certification.
- Kostopoulos Bankruptcy Law has been named as one of the Top 100 Firms by the Debt Education and Certification Foundation (DECAF).
- Since opening our doors, we have represented clients in over 8,000 bankruptcy filings!
If Chapter 7 is right for you, it may offer you the debt relief that you truly need and deserve. No one should have to suffer with so much debt if they don't have to. Find out about all of your debt relief options by contacting our firm right away!