Cerritos Chapter 7 Bankruptcy Attorney

Do you need a fresh start?

Similar to other types of bankruptcy, Chapter 7 is intended to provide you with a fresh start in your financial affairs. At RJB Law Offices, we frequently get asked, "Is bankruptcy right for me?" There is no one right answer to that question. Each person we see is a unique individual that has a different financial situation. We do work diligently to provide clients with factual information regarding what bankruptcy is and how it works.

Chapter 7 is a specific type of bankruptcy that is commonly used by people that do not have a relatively high income and don't have large amounts of property. Unlike Chapter 13, it does not require a repayment plan in order to be successfully concluded. If done correctly, it can result in the discharge of the majority of your debts. A knowledgeable and dedicated Cerritos bankruptcy lawyer at RJB Law Offices can be consulted to get the process of filing for Chapter 7 bankruptcy swiftly moving.

The Chapter 7 Process

First we must determine if you qualify for Chapter 7 bankruptcy filing. If so, the process begins with a petition to the bankruptcy court. The court will need to be given information on your current expenses, income, your assets and liabilities and a formal statement of your financial affairs. Part of the service we provide is preparing the petition in such a way as to increase the chances of its approval by the courts. Once approved, a trustee will be assigned to your case. This person will review your financial situation and see what assets could be sold off in order to pay off eligible debts. Usually your home, vehicles and personal items are exempt from this process. 401k plans or individual retirement accounts are commonly exempt as well.

It is a relief to many of our clients to know that once their petition is properly filed with the court, this can provide relief from creditor phone calls, lawsuits and other debt collection actions. The rules that apply to Chapter 7 will need to be understood and followed. If followed through to the end, an individual can experience freedom from creditor harassment and debt relief.

If you are experiencing financial stress and are considering filing for bankruptcy, contact a Cerritos Chapter 7 Bankruptcy Attorney for knowledgeable assistance.