Chula Vista Chapter 7 Bankruptcy Attorneys
The Sexton Law Firm Will Fight for Your Future
If you're in debt and struggling to make ends meet, Chapter 7 bankruptcy may be a viable option for you. At The Sexton Law Firm, we proudly offer Chapter 7 bankruptcy services in Chula Vista. Our team of experienced attorneys understand the complexities of bankruptcy law and can guide you through the process of filing for Chapter 7. Contact us today for the compassionate and precise support you deserve.
Call (619) 202-8976 now.
What a Chapter 7 Bankruptcy Attorney in Chula Vista Can Do for You
Chapter 7 bankruptcy, often referred to as "liquidation bankruptcy," is a legal process that provides individuals and businesses a means to eliminate overwhelming debt and obtain a fresh financial start. While it shares some important aspects with other types of bankruptcy, it is important to know the particulars of Chapter 7 if you are thinking about undergoing this process.
At The Sexton Law Firm, we can help you with the following aspects of filing for Chapter 7:
- Eligibility: Before filing for Chapter 7 bankruptcy, individuals must meet specific eligibility criteria. The means test, which considers income, expenses, and household size, determines whether a debtor qualifies for Chapter 7 or must pursue Chapter 13 bankruptcy, which involves a repayment plan.
- Automatic Stay: Upon filing for Chapter 7, an "automatic stay" goes into effect. This legal injunction prevents creditors from pursuing collection actions, such as wage garnishment, foreclosure, or repossession, providing immediate relief to debtors.
- Liquidation Process: Chapter 7 involves the appointment of a trustee responsible for selling non-exempt assets to repay creditors. However, many states offer exemptions that protect essential assets like a primary residence, vehicle, and personal belongings.
- Discharge of Debts: One of the primary benefits of Chapter 7 bankruptcy is the discharge of eligible unsecured debts, such as credit card balances, medical bills, and personal loans. Debts like child support, alimony, and student loans are typically non-dischargeable.
- Impact on Credit Score: Chapter 7 bankruptcy can significantly affect one's credit score, resulting in a lower credit rating. However, it also provides an opportunity for a fresh financial start, and individuals can begin rebuilding their credit over time.
- Post-Bankruptcy Rebuilding: After receiving a discharge, debtors can take steps to rebuild their financial health. This includes creating a budget, establishing an emergency fund, and responsibly managing credit.
- Long-Term Implications: While Chapter 7 offers relief from debt, it remains on a credit report for ten years. This may impact the ability to obtain new credit or secure favorable interest rates in the immediate aftermath.
- Seeking Legal Counsel: Navigating Chapter 7 bankruptcy is a complex legal process that requires careful consideration. Consulting with an experienced bankruptcy attorney is crucial for understanding your options, assessing eligibility, and ensuring a smooth filing process.
Begin the Chapter 7 Bankruptcy Process in Chula Vista Today
If you're unsure if Chapter 7 bankruptcy is the right option for you, contact The Sexton Law Firm today to schedule a consultation. Our team of experienced Chula Vista bankruptcy lawyers will evaluate your unique financial situation and help you determine the best course of action for your future.
We Listen to Your Story and Create a Strategy to Achieve Your Goals
With offices in Chula Vista, Oceanside, and La Mesa, we serve clients throughout all of Southern California
We Offer Free Consultations - Regardless of the Legal Matter
We Offer Phone and Video Consultations For Your Safety and Convenience
We Are Bilingual and Serve Our Clients in English and Spanish
We Are a Family Owned and Operated Law Firm