Chapter 7 Bankruptcy Attorney in Ontario, CA
Experienced & Informative Legal Counsel for California Bankruptcy
Millions of Americans already have or will one day file for bankruptcy in order to protect themselves financially. Chapter 7 bankruptcy is a legal process that helps people eliminate their debts or repay them under bankruptcy court protection.
On This Page:
- Should I File for Chapter 7?
- How to Qualify for Chapter 7 Bankruptcy
- Chapter 7 Bankruptcy Process
- Contact Our Ontario Chapter 7 Bankruptcy Attorneys
Need to file for Chapter 7 bankruptcy in Ontario, CA? Dial (800) 996-9932 today to discuss your situation with a skilled attorney from Wadhwani & Shanfeld.
There are two options for most people filing for bankruptcy: Chapter 7 and Chapter 13. While many people may be confused as to which one is “better”, the truth is that they are useful for different people in different situations.
Chapter 7 bankruptcy may be for you if:
- You are looking for liquidation, as you are asking the bankruptcy court to discharge the debts you owe.
- You are looking for the quickest and easiest plan of action. Many people opt for a Chapter 7 bankruptcy because there is no cap on how much debt you can have before you file.
- You want to keep your property. A Chapter 7 bankruptcy allows you to keep making payments on a mortgage or vehicle, therefore allowing you to keep those items. However, if you are behind on your payments, a Chapter 7 bankruptcy may not be right for you.
Meeting with an Ontario, CA bankruptcy attorney can help you determine whether Chapter 7 is right for you, or if you are more suited to file for Chapter 13.
In California, a means test is used to determine eligibility for Chapter 7 bankruptcy. This test examines a person’s average gross income for the 6 months prior to filing bankruptcy. If your average income is lower than the average state income, then you will qualify. Those who do not meet this criteria are considered capable of paying their debt and may do so through Chapter 13 bankruptcy or another repayment method.
- Credit counseling: As with any bankruptcy you must complete credit counseling from an approved agency before you file, and again before you receive a discharge.
- Petition: You file a petition in which you as the court to wipe out your debts in exchange for any un-exempt property.
- Meeting of creditors: During this meeting, the trustee will review your forms and creditors may ask questions about your financial situation and other questions they may have.
- Discharge: The last step is having your debts discharged, and you will no longer owe debts to your creditors.
Finances can be complicated, which is why it is best to refer to an bankruptcy attorney in Ontario, CA for any and all of your legal and financial needs. Our experienced legal team at Wadhwani & Shanfeld has helped countless families overcome their financial struggles by filing a Chapter 7 bankruptcy, and we are understanding of your difficult situation. Our compassionate nature combined with the fact we keep you informed every step of the way makes us your number one candidates for Ontario, CA Chapter 7 bankruptcy attorneys you can trust.
To get in touch with a representative, don’t hesitate to call us at 800.996.9932 or complete an online form.