Riverside Bankruptcy Attorney

Chapter 7

Chapter 7 Bankruptcy is the filing used when an individual cannot pay their debts.  This filing “discharges” their obligations.  What this means to you is that if you have no hope of paying off your debts within a reasonable length of time, this filing will give you the opportunity for a fresh financial start without the overwhelming debt that you have accumulated.  How it is done is complex and includes lots of information about your financial condition.  If you are in the position of being unable to pay your debts, it is crucial that you contact a Riverside bankruptcy lawyer to assist you.  Filing bankruptcy without an attorney is too complicated for most individuals, and with the help of a bankruptcy lawyer from the Law Offices of J. Arthur Roberts this can be accomplished with less stress to you and your family.

Riverside Bankruptcy Lawyer

Most debts can be “discharged” in a Chapter 7 bankruptcy.  However, certain debts are not eligible in California, including child support, alimony, student loans and some taxes, usually the taxes owing for the past 3 years.  Not all of your assets must be liquidated.  You are allowed to keep certain of your assets.  For a complete list of what you are allowed to keep in a Chapter 7 bankruptcy, contact the Law Offices of Attorney J. Arthur Roberts, but generally it usually  includes your car, house, (up to a certain value), pension, health benefits, clothing, and household goods.  As soon as your bankruptcy is filed, all collection phone calls and letters will stop.   Your attorney will inform all creditors and the attempts to collect the debt ends.    If your house is in foreclosure, certain procedures will be taken to fight for you to keep your home.  If you were sold your home with false statements by the mortgage company, violating the “truth in lending” laws, this can be in your favor on how to reorganize the loan and make your house payments affordable to you.

Before filing a Chapter 7 bankruptcy, you are required to take a “means test” as well as have pre-bankruptcy counseling.  The testing will determine if you are eligible for a Chapter 7.  It is crucial that you meet with an attorney from the Law Office of J. Arthur Roberts before attempting to do the test, as there may additional factors in your financial situation that need to be calculated when taking the means test.  Your situation is unique and you should get your questions answered.  Call the Law Offices of J. Arthur Roberts to discuss your options in freeing yourself from the pressure of too many debts and not enough income to cover them.

Contact a Riverside Bankruptcy Attorney from the Law Offices of J. Arthur Roberts and discover how to protect yourself with a Chapter 7 Bankruptcy filing.