Bankruptcy Attorney in Sherman Oaks CA
Are you unable to pay your bills? Are your credit card balances piling up with each month?
Are you drowning in debt? Then, bankruptcy might be your answer.
Chapter 7 Bankruptcy
A Chapter 7 Bankruptcy is for individuals who need to forgive their unsecured debt. Unsecured debt is credit cards, medical bills, personal loans, and other bills. Bankruptcy allows you to keep your home, car and other property under exemptions allowed by law. The new Bankruptcy rules require debtors to satisfy a “means test” and complete online classes for debt counseling. The Bankruptcy Court requires applicants to complete 2 classes. These are done on-line from the comfort of your home. The first class must be completed prior to the petition being filed, and the second class must be completed within 30 days of the 341(a) hearing.
The bankruptcy process takes approximately 3 – 5 months. Most of the time is gathering all of the information in order to prepare the petition. This includes the list of debts, income and assets. There is one hearing required for all persons filing a bankruptcy. This hearing is in front of a U. S. Trustee and not a Bankruptcy Judge. The purpose of this hearing is to ensure that your petition is properly prepared and that all of the information is accurate. The hearing usually takes about 30 minutes.
Our office has the experience and expertise in making the experience as simple and easy as possible. We will guide you through this process from giving you a checklist of information needed, arranging online debt counseling classes and appearing and representing you at the 341(a) hearing.