Chapter 7 Bankruptcy - Liquidation

Santa Monica Bankruptcy Attorney

If you are facing overwhelming debt, creditor harassment, wage garnishment or repossession, filing a Chapter 7 bankruptcy may be an option for you to stop all debt collection efforts and eliminate your debt. You can finally get the fresh start you need.

Are you interested in learning more about bankruptcy and whether Chapter 7 is the right option for you? As a Santa Monica bankruptcy lawyer, I will meet with you to talk about your particular financial situation and what benefits a Chapter 7 filing may have for you. We can also discuss whether you qualify for Chapter 7 by applying the "means test," which evaluates your income level, to see whether Chapter 7 or Chapter 13 is more appropriate.

About Chapter 7 Bankruptcy in Santa Monica

Chapter 7 bankruptcy is often referred to as "liquidation" as it involves surrendering certain assets to the bankruptcy court to be liquidated to pay off creditors. A common misconception with Chapter 7 cases, however, is that you will lose all of your property. Certain property is protected under Federal and California law.  And depending on your unique situation, certain debts for assets not otherwise protected may be reaffirmed provided you have the financial ability to do so.  In short, you may even end up being able to keep all of your valuable property.

Chapter 7 bankruptcy is the most common form of bankruptcy that individuals throughout the U.S. file. When you file a Chapter 7 case, all creditors and debt collection agencies are required to immediately cease all collection efforts or lawsuits against you. Finally, you will be able to answer the phone without worrying that it is another angry creditor. You can get the breathing room you need.

Learn more about the advantages of a Chapter 7 bankruptcy and how this may affect you. For a free consultation,  contact Santa Monica bankruptcy attorney George Kim today .  Evening and weekend appointments available.  Locations throughout Los Angeles near you.