Chapter 7 Bankruptcy

If you are looking for a Chapter 7 bankruptcy attorney in Los Angeles please feel free to give us a call today. You may also be interested in The Ultimate Guide to California Bankruptcy.

What is Chapter 7 Bankruptcy?

Chapter 7 is the traditional liquidation or “straight” bankruptcy. In all Chapter 7 cases, a trustee is designated by the court to administer the debtor’s nonexempt assets for the benefit of the debtor’s creditors.

Eligibility

Individuals are qualified as Chapter 7 debtors if they have a domicile, a place of business, or property in the United States. Note that citizenship is not required.

Discharge in Prior Case

You are eligible to receive a discharge in Chapter 7 Bankruptcy even if you previously received a Chapter 7 Bankruptcy discharge, as long as the prior Chapter 7 case in which you received a discharge was filed at least eight years before the filing of your new Chapter 7 case. You can also receive a Chapter 7 discharge in your current case if you previously filed for Chapter 13 Bankruptcy, so long as the prior Chapter 13 case in which you received a discharge was filed at least six years before the filing of your new Chapter 7 case.

Credit Counseling Requirement

For cases filed after October 17, 2005, you must obtain a certificate from an approved credit counseling agency before you can file your case. This can be done over the internet and will likely cost approximately $35-$45. Your attorney will provide you with information on how to obtain this counseling.

An individual cannot file a Chapter 7 case unless, during the 180-day period before filing, he or she has received an individual or group briefing from and approved nonprofit budget and credit counseling agency.

Automatic Stay

When a debtor files for bankruptcy, something called the “automatic stay” immediately stops any lawsuit filed against the debtor and virtually all actions against the property by a creditor, collection agency or government entity. Especially if a debtor is at risk of being foreclosed on, losing such basic resources as welfare or unemployment benefits, or a driver’s license or a job (because of a raft of wage garnishments), the automatic stay provides immediate protection.

Financial Management Course

For cases filed after 10/17/2005, you are required to complete a financial management course before receiving your discharge. You must have completed this course (usually about 2 hours) and submitted the certificate of completion to the court no later than 45 days after the date first set for your meeting with the Trustee. IF you fail to do this, you will NOT get a discharge.

Sherman Oaks, CA

Law Offices of Steers & Associates
5900 Sepulveda Blvd., Suite 270
Sherman Oaks, CA 91411
Phone: (800) 824-5416
Mo, Tu, We, Th, Fr: 9:00am - 5:30pm

Los Angeles, CA

Law Offices of Steers & Associates
445 S. Figueroa Street, Suite 2700
Los Angeles, CA 90071
Phone: (800) 824-5416
Mo, Tu, We, Th, Fr: 9:00am - 5:30pm

Lancaster, CA

Law Offices of Steers & Associates
1805 West Avenue K
Lancaster, CA 93534
Phone: (800) 824-5416
Mo, Tu, We, Th, Fr: 9:00am - 5:30pm

Riverside, CA

Law Offices of Steers & Associates
11801 Pierce Street, Suite 200
Riverside, CA 92505
Phone: (800) 824-5416
Mo, Tu, We, Th, Fr: 9:00am - 5:30pm

Long Beach, CA

Law Offices of Steers & Associates
111 West Ocean Blvd., Suite 400
Long Beach, CA 90802
Phone: (800) 824-5416
Mo, Tu, We, Th, Fr: 9:00am - 5:30pm