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Find freedom from debt by filing for Chapter 7 in Lake Elsinore CA
As of Q3 2016, the average Californian has $7,300 in credit card debt. Credit card debt is often a sign of deeper financial problems, as people frequently turn to credit cards to help them make ends meet when they lose their job, get sick, or get hurt and no longer have enough income to cover their bills. Filing for Chapter 7 in Lake Elsinore CA can provide much needed debt relief in this situation.
California Bankruptcy Relief is Here to Help
California Bankruptcy Relief is a federally approved bankruptcy agency with ample experience in Chapter 7. As your bankruptcy attorney, we will help you understand and follow all the rules and requirements that apply to filing for Chapter 7 in Lake Elsinore CA. We’ll also prepare your petition for you. We have a 100 percent success rate in bankruptcy filings and we’re confident we can help you.
What Can You Do with Chapter 7 Bankruptcy?
- Eliminate Your Unsecured Debts: By filing for Chapter 7 in Lake Elsinore CA, you can relieve yourself of the burden posed by many types of unsecured debts such as:
- Credit card debt
- Personal loans
- Medical bills
- Utility bills
- Back taxes at least 3 years old
- Certain lawsuits and judgments
- Reaffirm or Redeem Secured Debts: If you have a mortgage, a car loan, or some other type of secured debt, filing for Chapter 7 in Lake Elsinore CA allows you to choose whether or not you want to discharge these debts in the bankruptcy. If you can afford the payments, you can reaffirm the debt and keep the property. If you cannot afford the payments, you can give up or redeem the property and discharge the debts.
- Keep Your Exempt Property: Although Chapter 7 is sometimes called “Liquidation Bankruptcy,” this doesn’t mean you will have to give up all of your property. California has two different sets of exemptions describing the type and value of property you can keep. We can go over the details with you and make sure you choose the most advantageous set of exemptions. This could allow you to keep:
- Your home
- Vehicles
- Home furnishings
- Clothing and jewelry
- Social security benefits
- 401ks and IRAs
- Pensions and other qualified retirement plans
- Tools of the trade for your business
- Alimony and child support
Find Out If You Qualify for Chapter 7 in Lake Elsinore CA
Unfortunately, not everyone qualifies for Chapter 7 in Lake Elsinore CA. If you earn more than the median income for your household size, we will need to complete a very complicated calculation called the California Means Test in order to figure out if you qualify. California Bankruptcy Relief has ample experience with the Means Test along with a strong track record of helping high earners qualify.
Call Now for Your Free Bankruptcy Evaluation
Are you ready to find relief from your debts? All you have to do is dial 951-755-1000 or submit your case online and we’ll be happy to provide a free bankruptcy evaluation.
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