I Help Good People Solve Their Debt Problems

Reasons to choose Chapter 7 bankruptcyThere are many good reasons to choose Chapter 7 bankruptcy. The U.S. Bankruptcy Code offers several choices to a person who is struggling with debt. A Chapter 7 bankruptcy is the most common form and preferred option for most debtors.

Here are seven reasons to choose Chapter 7 bankruptcy.

1. Time: A Typical Chapter 7 bankruptcy takes about 5 to 6 months from beginning to end. Once the case is filed, a brief creditor’s meeting is held about 35 days into the process. Unless a creditor objects . . . which is very rare . . . the case ends about 3 months later with little excitement.

2. Property: Most Chapter 7 filers do not lose any property. Federal and/or California State exemption laws allow a debtor to protect fairly generous amounts of property. The bankruptcy trustee concludes most cases as being “no asset” cases. This means that you have no property that you are required to forfeit.

3. Cost: A California Chapter 7 bankruptcy is considerably less expensive than a Chapter 13 bankruptcy. While there are differences on what a typical bankruptcy lawyer charges, most experienced lawyers will quote a fee that is fair and affordable. We understand that finances are tight and that this is something you don’t have extra money for.

4. Repayment of most unsecured creditors: There is none. If the debt was incurred in good faith and no creditor objects to you filing bankruptcy, unsecured credit obligations (credit cards, medical bills, utility bills, car repossessions, mortgage foreclosure obligations) are completely wiped out in a Chapter 7 bankruptcy.

5. Privacy: While a record of your bankruptcy is accessible in the court system, unless you are famous, you don’t have to worry about it being published in the newspaper. Generally, the only people who know you filed are you, the court, your creditors, and anyone else you choose to tell.

6. Credit: Most Chapter 7 bankruptcy filers are able to reestablish credit within a short period after their bankruptcy. After the present debt is removed, your debt to income ratio improves. This is the beginning to rebuilding your credit.

7. Stress: Other than a 5 to 10 minute hearing with the assigned trustee for your case, most Chapter 7 filers never have to go to court.

Perhaps you have some questions. You can reach my by phone at 760-523-9090. Or just click on the ORANGE “Contact Me” button at the top of your screen. I’ll contact you back and make arrangements to meet with you.

Talk with me. I’ll treat you like a friend.


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