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.
If you are considering your bankruptcy options, most individuals file either
Chapter 7 or
Chapter 13, whereas business owners tend to file a
Chapter 11 bankruptcy.
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”
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
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 The Bankruptcy Law Firm 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.
The Bankruptcy Law Firm 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!
Hear what our clients have to say about our services by reading our
client testimonials! To get in contact with a member of our legal team, call us today at (877) 969-7482!