Chapter 7

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When To Consult A San Jose Chapter 7 Bankruptcy Lawyer

Bankruptcy Options For Those With Serious Debt Issues

There are several types of bankruptcy, each with specific requirements, benefits and drawbacks. No one type is superior in every situation. As a Chapter 13 and Chapter 7 bankruptcy lawyer in San Jose, Ronda Edgar and her team of bankruptcy professionals help clients in California determine what type of bankruptcy is most appropriate to address their individual financial issues. At Edgar Law Group, LLP, we analyze your financial situation to provide personalized advice and help you get on the path to financial recovery.

How A Chapter 7 Bankruptcy Lawyer In The Bay Area Can Help

Each type of bankruptcy is named after the chapter of the United States Bankruptcy Code that governs it. The most common and most easily available type of bankruptcy relief is Chapter 7 – also called liquidation bankruptcy. Under this chapter, petitioners must turn over all their assets – subject to some important exceptions – to a United States trustee, who then sells them and distributes the proceeds to the petitioner’s creditors. The petitioner then receives a court discharge of its unsecured debts.

Chapter 7 is available to both businesses and individuals and, unlike Chapter 13 bankruptcy, does not require a petitioner’s debt to fall under certain levels. A petitioner for Chapter 7 must undergo approved credit counseling within 180 days before filing a petition and must not have had a prior bankruptcy petition dismissed for failure to cooperate with the court within the last 180 days. Additionally, the petitioner must pass the means test – a financial benchmark designed to prevent abuse of the bankruptcy system.

If a petitioner’s current monthly income is above the state average, the bankruptcy court considers its aggregate monthly income during the last five years to determine if allowing a discharge in bankruptcy would be an abuse of the system. The specific figures used change frequently based on the current economic conditions. San Jose Chapter 7 bankruptcy lawyers can examine your finances to determine if the means test will present a problem.

Contact An Experienced San Jose Chapter 7 Bankruptcy Law Firm

As a San Jose Chapter 7 bankruptcy lawyer, Ronda Edgar reviews her clients’ financials, advises them of their options and, should they choose bankruptcy, guides them through the process from start to finish. We are conveniently located in downtown San Jose and serve businesses and individuals throughout the Bay Area, including Sacramento, San Francisco, Oakland, Modesto and the surrounding areas. We offer flexible hours by appointment and free consultations. Call us today at 877-345-3591 or contact us online to discuss your case.

Your Case Begins With A Free Consultation

We are available to discuss your case for free in an initial consultation. During this consultation, we can discuss specifically what our team will do to move your case forward and meet your needs. Call 877-345-3591 or email today to schedule a meeting.

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