Orange County Bankruptcy Attorney

Chapter 7 Bankruptcy

If you are facing overwhelming debt and are considering a bankruptcy filing, it is crucial that you contact an Orange County bankruptcy attorney.  With the help of a qualified bankruptcy lawyer, it can be determined what the best course of action for you is.   Chapter 7 bankruptcies are filed when one cannot hope to pay off their obligations.  This is the type of bankruptcy filing in which your debts are “discharged”.  The procedure takes some time, usually 4 – 6 months.  During that time, all creditor calls and collection actions will cease.   When the bankruptcy is complete, most of your debts will be discharged.  You will no longer owe for them.

As being under constant pressure by creditors can destroy your family life, this factor alone can bring great relief.  If your house is in foreclosure, the bankruptcy filing can open up some new options on the handling of your mortgage, including a loan modification.  Banks often become much more interested in this procedure when a Chapter 7 bankruptcy has been filed.  If your debts are discharged in the bankruptcy, you will no longer owe your mortgage.  However, it is still possible that the lender will take back the property, depending on the circumstances.  In some cases, the individual is allowed to keep the property.  Your particular case must be reviewed quickly by an attorney from the Law Offices of J. Arthur Roberts.

Bankruptcy Lawyer in Orange County

If you are in deep financial trouble, there are laws to protect you.  You have been given the opportunity to file for bankruptcy and make a new start.  There are certain requirements when filing Chapter 7 bankruptcy.  You must take a “means test” to find out if you qualify to file for either Chapter 7 or Chapter 13 bankruptcy.  This test is an investigative look at your finances to discover whether you have the “means” to pay off your debt.  This was implemented to ensure that individuals with high incomes did not have the ability to discharge their debt.   Another requirement is that you must have had pre-bankruptcy financial counseling within the past 18 months.   It is vital that you meet with a bankruptcy attorney from the Law Offices of J. Arthur Roberts prior to taking the means test.  If you take the test without the help of a knowledgeable bankruptcy attorney, you may be denied the right to file Chapter 7 bankruptcy and have your debts discharged.  Your option will then likely be Chapter 13 bankruptcy.

Contact an Orange County Bankruptcy Attorney from the Law Offices of J. Arthur Roberts when you are considering filing Chapter 7 bankruptcy and need skilled legal counsel.