Chapter 7
California Debt Settlement Attorney
Southern California Chapter 7 Bankruptcy Lawyers
Chapter 7 of Title 11 of the United States Code governs the process of liquidation under the bankruptcy laws of the United States and is available for businesses or individuals. Chapter 7 Bankruptcy (Entitled Liquidation) is the most common form of bankruptcy and offers businesses and personal debtors an orderly, court supervised procedure whereby a trustee sells non-exempt assets to satisfy a bankruptcy petitioner’s preexisting debt. Once a petitioner’s assets are sold, proceeds from the sale of the assets are in turn paid out to creditors. Also referred to as a “liquidation” or “debt wipe-out,” Chapter 7 cases are typically resolved 4 months after the filing date. You will receive a “Bankruptcy Discharge” and your obligation to the discharged debts will be over.
Is Chapter 7 Bankruptcy a Good Option? Protect your Assets in a Chapter 7 Bankruptcy
A Chapter 7 filing can be a great option for business or individuals seeking a completely “fresh start.” Business may dissolve in a disorderly manner with finality and absolution of duties by current management to eliminate credit card debt, deficiencies, judgments, medical bills and other types of unsecured debt. A Chapter 7 Bankruptcy is a good option for those businesses or individuals who are overwhelmed with mounting debt, have several creditors seeking debt settlement and who want to protect existing assets.
Chapter 7 Bankruptcy Solutions – Affordable Fees
Unlike other law firms who focus only on Chapter 7 Bankruptcies and steer clear from the alternatives to Chapter 7 Bankruptcy, the attorneys at Khansari Law practice under all chapters of the Bankruptcy Code and have specialized training in resolving debt issues with bankruptcy. Thus, the attorneys at Khansari Law have a wider vision when it comes to advising clients about whether to file for Chapter 7 Bankruptcy or file bankruptcy under another chapter of the United States Bankruptcy Code.
Bankruptcy is a complex legal procedure. At Khansari Law, our attorneys and staff have years of experience in working with every aspect of bankruptcy law.
To discuss your immediate legal needs and future financial goals with the experienced attorneys and staff at Khansari Law, please do not hesitate to call our offices at 818.650.6444. You may also e-mail us now at info@khasarilaw.com to answer any of your questions or to request a consultation to discuss your bankruptcy or alternative to bankruptcy options.