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Information regarding Chapter 7

CHAPTER 7 - What is a Chapter 7?

Chapter 7, also known as a “liquidation” is intended for debtors who have no ability to pay any of their unsecured debts on a monthly basis. The point of bankruptcy in general is to obtain a discharge of debt, meaning the you will never have to pay that debt, giving you a fresh financial start. Although some debts are not dischargeable, the majority of debts can be discharged. The “discharge” is among the most powerful remedies available under the law. The law regarding bankruptcies changed in 2005.


          From the moment you file the petition the typical Chapter 7 case lasts approximately 90 days. So this means in as little as three months you can have a fresh start and move on with your life.



   Once the Chapter 7 bankruptcy petition is filed, the bankruptcy petitioner  (you) will be given a date for his or her Meeting of Creditors (also known as a 341 Meeting), which is generally scheduled for about a month after the bankruptcy petition is filed. Your skilled, established lawyer at the local  

Menifee law office - will always appear at your Meeting of Creditors with you.


Why would some law  offices send someone you never met to appear with you at the hearing? I’m not sure, but my philosophy is that we started this process together we’ll end it together.


Keep Your Exempt Property

In California, a debtor can elect from one of two categories of exemptions, depending on the type of property owned and the amount of equity that exists. Let me help you determine which category is better for you. If you qualify, you can keep certain exempt property such as: