Articles Posted in Chapter 7

When you file Chapter 7 bankruptcy, certain types of unsecured debt, such as credit card debt and medical debt are discharged (wiped out). You are also granted bankruptcy exemptions, which protect certain assets from entering into the “bankruptcy estate”. Items in your bankruptcy estate are known as non-exempt and will be sold off by the…

One of the highest “worry factors” surrounding filing for Chapter 7 bankruptcy in California is wondering if you will pass the “means test” required of all consumers filing for bankruptcy protection. As a Sacramento Bankruptcy Attorney firm, it’s one of the most common concerns we hear. Many individuals are surprised to hear that you are…

Most things in life are “give and take”, and Chapter 7 bankruptcy isn’t much different. It’s true that Chapter 7 bankruptcy can be an enormous lifeline to individuals who are suffering from crippling debt, but it does come at a certain cost. Making the decision to file for Chapter 7 bankruptcy can be very difficult…

Many individuals who are struggling with debt worry they will lose their home if they file for Chapter 7 bankruptcy. Consequently, we hear the “Can I keep my house in Chapter 7 bankruptcy” question quite often. Keeping your property in Chapter 7 bankruptcy depends on how far behind in your mortgage payments you are and…

Sometimes, paying to go broke doesn’t seem like the most logical or straightforward answer to debt relief. In fact, requiring a fee to file bankruptcy, to some, seems like an oxymoron. Nevertheless, in order to discharge debts using Chapter 7 bankruptcy, there are filing and attorney fees that must be paid in order to escape…

Bankruptcy lawyers in Sacramento California are most commonly asked how an individual can qualify for Chapter 7 bankruptcy and what qualifications or standards need to be met in order to file. Determining who can file for bankruptcy can be complicated and so seeking out a Sacramento bankruptcy attorney can ensure that this step in the…

A Chapter 7 bankruptcy case is typically the quickest and simplest type of bankruptcy in Sacramento. After filing bankruptcy, you can typically expect to have your eligible debts discharged within four to six months. A few things that can slow down your Chapter 7 bankruptcy discharge are additional documentation requests from the trustee, if the…

Contrary to popular belief, you can always discharge your income tax debts in Chapter 7 bankruptcy. However, in order to be able to do so, your tax debts must meet the basic requirements stipulated by the federal government. Chapter 7 Bankruptcy tax debt isn’t cut and dry. Here is a list of restrictions and qualifications…

A Chapter 7 bankruptcy is also referred to as a “straight bankruptcy” because it doesn’t involve the development of a repayment plan like you will find in Chapter 13 bankruptcy. Chapter 7 might seem like a simpler way to eliminate debt by the liquidation of non-exempt assets to satisfy debts owed to creditors. However, sometimes…

If you are considering filing for bankruptcy to resolve your debt obligations it is important that you understand how the process works and what to expect from the process. Your Sacramento bankruptcy attorney will review this information with you, but to begin you should first understand what types of debt you have and how they…