Chapter 7 and Chapter 13 Bankruptcy Attorney Susan J. Salehi Bankruptcy Lawyer for Ventura County, Santa Barbara County, Kern County, Los Angeles County Chapter 7 and Chapter 13
WHAT IS CHAPTER 7 BANKRUPTCY?
Chapter 7 bankruptcy, sometimes call a straight bankruptcy is a liquidation
proceeding. The debtor turns over all non-exempt property to the bankruptcy
trustee who then converts it to cash for distribution to the creditors. The
debtor receives a discharge of all dischargeable debts usually within four
months. In the vast majority of cases the debtor has no assets that he would
lose so Chapter 7 will give that person a relatively quick "fresh start".
You can file a Chapter 7 case every 8 years. If you are not eligible to
file another Chapter 7 but need relief from creditors, you can be eligible
to file a Chapter 13 case.
One of the main purposes of Bankruptcy Law is to give a person, who is
hopelessly burdened with debt, a fresh start by wiping out his or her debts.
You start the process by calling my office for FREE consultation.
You will need to bring: paystubs or evidence of income for the past 6
months, last 2 years tax returns, recent credit report(s) - you can get free
reports once a year from
from each of the credit reporting agencies. If you owe taxes, you need
to bring any correspondence you have received from the taxing agencies and
preferrably a transcript of the tax periods in question. If you have
liens of any sort, you will need to bring copies of those.
You will need to bring your driver's license and social security cards as
copies need to be provided to the trustee before the Meeting of Creditors.
This meeting is about a month after you file your case. I appear with
you at this hearing where the trustee will ask you questions regarding the
information contained in your bankruptcy case. Any creditor can also
appear and ask questions although my experience is that very few actually
You will need to take a counseling course before you can file a case.
there are many places to take this course. I refer my client to Money
Management International. They can be reached 24 hours a day, 7 days a
week at (888) 845-5669. The cost is $50.00 payable with an ATM debit
card. They then fax the certificate to my office at (805) 830-0387.
In some cases, the fee can be waived. Be sure that you ask about a fee
waiver before you take the course. You will also be required to take a
second counseling course , and can do so through the same company. It
must be completed in time to file the certificate of completion within 45
days after your initial Meeting of Creditors. Otherwise, you case can
be closed without the discharge being entered. You would then be
required to pay additional fees to reopen the case and submit the
credit counseling at
www.cricketdebt.com. It costs $36 and you ask them to fax the
certificate(s) to me at (805) 830-0387. If you do not have
access to the internet, you can take the counseling by telephone at (888)
845-5669 - and the cost is $50.00.
We are proudly a debt relief agency.