Filing for Bankruptcy Under Bankruptcy Code- Chapter 7

If you’re in United States and passing through a hard-hitting monetary crisis, you may be in distress, anticipating fear of annoyance from your creditors who will proceed against you to recover their money at any cost. You may be expecting a big disaster ahead in your life. But a legal solution is available to get through this crisis. Being in California has an advantage of finding a good San Diego bankruptcy lawyer who is a legal expert in bankruptcy matters. There is no dearth of renowned bankruptcy lawyers and law firms in California to help you in the matter.

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Filing under Chapter 7 of Bankruptcy Code

As an individual or a company, filing for bankruptcy under this chapter means that you have taken a constructive measure toward reinstating your financial independence. Chapter 7, a most usual type of bankruptcy in the United States, is sometimes called “straight bankruptcy” that qualifies individuals, couples, or companies in grave financial distress to resolve debts and get a new financial start as it allows you to retain possession of your property and other belongings to make a fresh start so that you can pay off your debts from the profits at a later stage. It takes about three months to get discharge after filing a petition under this chapter. You may also get opportunity to remove some liens from your home if your property is in sunken stage. An expertise of a good bankruptcy attorney San Diego is necessary if you’re looking to enjoy these privileges in your insolvency.

Necessity of a bankruptcy lawyer for Chapter 7 filing

Though Chapter 7 is the most usual form, yet its applicability is complex and the privileges under this chapter can eliminate most of your worries. Thus, an utmost care and thorough preparation is needed to file for bankruptcy under this chapter that only a bankruptcy lawyer San Diego can do with his legal expertise.

 

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