"Ca Bankruptcy Chapter 7"
If you are considering filing for bankruptcy in California, Chapter 7 is one of the options available. It's important to understand the conditions and processes associated with filing for Chapter 7 bankruptcy before making final decisions.
Chapter 7 bankruptcy allows individuals and businesses to liquidate their non-exempt assets in order to repay creditors. The debtor will be relieved from further debt obligations once all debts have been satisfied through liquidation. In addition, certain debts may be discharged under a Chapter 7 filing. These include credit card debt, medical bills, personal loans and some tax liabilities that are more than three years old.
In California, a bankrupt person must pass a means test before they can file for Chapter 7 bankruptcy protection. This test evaluates an applicant's disposable income level over the past six months prior to petitioning for bankruptcy protection.
The Law Offices of Omar Zambrano has helped thousands of people and businesses in the past to get out of debt and start over.
Our goal is to help you can find a fresh start FAST!
Schedule your free consultation today! By Calling 626-338-5505 or visiting us at 12738 Ramona Blvd Baldwin Park CA 91706