Page 1

Chapter 7 Bankruptcy in Seaside CA

Chapter 7 Bankruptcy Seaside CA

What You Need to Know About Filing Chapter 7 Bankruptcy in Seaside CA Sometimes you can lose control of your financial situation through events such as sickness or finding yourself unemployed. Whatever the situation might be, bankruptcy may become a serious option for you. There are two types of consumer bankruptcy. You can file Chapter 13 or Chapter 7 bankruptcy in Seaside CA This is a short guide on Chapter 7 bankruptcy in Seaside CA. Youll find out what Chapter 7 bankruptcy is, the advantages and disadvantages to Chapter 7 bankruptcy in Seaside CA, what’s required to file and how to start. Chapter 7 bankruptcy in Seaside CA will no longer be a mystery when you are done reading this page.Bankruptcy can become a serious option for you due to unemployment or bad health. The two types of consumer bankruptcy consist of Chapter 13 and Chapter 7. We will cover Chapter 7 bankruptcy in Seaside CA here. We will cover how to file, what to expect, and benefits vs. disadvantages of Chapter 7 in Seaside CA. When you are done you will have a better understanding of the process of filing for Chapter 7 bankruptcy in Seaside CA.

Chapter 7 Bankruptcy in Seaside CA, What is it? Chapter 7 bankruptcy in Seaside CA takes the least amount of time. It is considered the easiest form of bankruptcy. You will not have to make payments to pay back debt with Chapter 7. Chapter 7 bankruptcy in Seaside CA puts more of your assets at risk than other types of bankruptcy. Filing bankruptcy doesn’t do all the damage to your credit, not repaying your debts hurts you more. The longer your loans are overdue, the more damage happens to your credit. On rare occasions your credit improves after filing, simply because all the overdue notice is

1/2


taken off your report. Selling your assets to pay for your debt is the core of Chapter 7 bankruptcy in Seaside CA. It has advantages and disadvantages, as you will see in the next section.

Advantages and Disadvantages to Chapter 7 Bankruptcy in Seaside CA Chapter 7 bankruptcy in Seaside CA results in a stay being issued, requiring all communication trying to collect to stop. The process of Chapter 7 bankruptcy in Seaside CA is also fast, usually only taking 3-6 months to complete the whole process. One problem is not all debt is charged off. Student loans, child support and tax repayments won’t be absolved. A further disadvantage to Chapter 7 bankruptcy in Seaside CA is in rare cases real estate may be sold to clear your debt.

What Happens After you File When you file for Chapter 7 bankruptcy in Seaside CA, you’ll be required to take credit counseling classes. To pay off your debts, your assets are inventoried and sold. In some cases cars and houses with no equity can be exempt form sale. Talk to a qualified bankruptcy attorney before filing. Chapter 7 bankruptcy in Seaside CA might not be the right choice, we can help you decide. Sometimes things happen and your finances get out of control. When this happens you want to look at your situation with reason. You should now understand what Chapter 7 bankruptcy in Seaside CA entails, what will happen if you file, and the benefits and problems that come with filing. Never try to do this alone. The laws can be difficult and a qualified attorney at law can be your best resource when attempting to figure out if Chapter 7 bankruptcy in Seaside CA is right for you. Stephen H. Kim, Attorney at Law 376A Main Street Salinas, CA 93901 831-221-5022

Chapter 7 Bankruptcy Seaside CA Chapter 7 Bankruptcy in Seaside CA

2/2 Powered by TCPDF (www.tcpdf.org)

Chapter 7 Bankruptcy in Seaside CA  
Read more
Read more
Similar to
Popular now
Just for you