Most debts are discharged under a Chapter 7 bankruptcy. The discharge of debt will release the debtor from any personal liability for payment. Once a deficit is discharged under Chapter 7, the creditor may no longer seek future restitution from the creditor. Obligations relating to alimony, child...
Chapter 7 bankruptcyis a legal procedure that discharges a debtor from personal liability for certain types of debts, including credit cards, medical bills, personal loans, foreclosures, repossessions, overdrafts, check cashing loans, etc. Upon filing for Chapter 7 bankruptcy, you will be protected...
personal loans andmortgage debts. When a Chapter 7 case is filed, all of the debtor’s property is temporarily under supervision of the bankruptcy court and a case trustee. Property that is considered “exempt” isretained by the debtor; conversely, property that is “nonexempt” is subject ...
Chapter 7 bankruptcy is designed to give debtors a “fresh start” in their financial life. At theend of the process, all qualifying debts are discharged, which means you will never have to pay them. Filing a bankruptcy petition is complicated and time consuming and not all debts are discharg...
Foster Law Offices, LLC assists consmers with obtaining a fresh start through Chapter 7 Bankruptcy. Credit card debt, medical bills, loans? We can help.
Chapter 7bankruptcy provides relief to hundreds of thousands (or even millions) of people each year. It is especially helpful for people who have high unsecured debts like medical bills, credit card debt and unsecured personal loans. In most Chapter 7 cases, the automatic stay goes into effect...
Chapter 7 Discharge The main goal in a Chapter 7 bankruptcy is to get a discharge. A bankruptcy discharge eliminates the filer's responsibility to pay back the debts they owe. When an individual gets a discharge, it prevents creditors from initiating any collection actions against them. ...
Qualification for Chapter 7 bankruptcy is contingent on earning below a certain income threshold. Chapter 11 bankruptcy is where the debtor negotiates with their creditors to alter the terms of their repayments. While the terms of the loans are changed, the outstanding debt still needs to be ...
A Chapter 7 bankruptcy may be able to protect your business and save your house, car, and personal relationships. It is important to understand the pros and cons of bankruptcy, and how it will affect you and your family, so you can make an informed decision based on your personal ...
Chapter 7 Bankruptcy Riverside Bankruptcy Lawyer California Chapter 7 Bankruptcy Lawyer Providing Debt Relief With over a million estimated bankruptcies filed each year, it is wise to consult with a bankruptcy lawyer about using Chapter 7 to get out of debt and not lose your hard-earned...