Chapter 7 Bankruptcy
Northern California Chapter 7 Bankruptcy
A Chapter 7 Bankruptcy (also known as “liquidation bankruptcy”) can eliminate a debtor’s liability on most unsecured debts, such as credit cards, personal loans, medical bills, and repossession or foreclosure deficiencies. It may also discharge the debtor’s liability on any secured debts such as a home or car loan where the collateral is given back to the lender.
Chapter 7 Bankruptcies are available to individuals, married couples, sole proprietorships, partnerships, and corporations. Debtors are required to attend a meeting of creditors approximately one month after a case is filed. The bankruptcy is typically completed in 3-4 months from the date of filing. Upon completion, the debtor’s includable debts are eliminated or discharged, meaning that the debtor no longer owes on those debts after the bankruptcy.
At Younger & Hennecke LLP, we pride ourselves on the fact that the attorney you hire will see your case through to completion. Our attorneys handle all paperwork personally instead of relying on paralegals, forms, and applications filled out by clients. We will guide you through each stage of the bankruptcy process and ultimately put you on a path to rebuilding your credit once your case is completed. Call now.
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