Bankruptcy

Chapter 7

Chapter 7 bankruptcy is a simple process by which you can file a petition and normally eliminate most, if not all, of your unsecured debt. The process takes about three months. In your first appointment with our office, we will be able to tell you whether or not you qualify for a Chapter 7 and whether filing is in your best interest given your debt, income, and any assets you have. The laws changed in 2005, but filing a Chapter 7 bankruptcy is still available for most people, and we will help you decide whether it is a good option for you and give you the personalized guidance you need through the process. Goto  Contact us for a consultation appointment, or call (831) 425-5757.

Did you know?

In a Chapter 7, the entire process takes only about three months from filing.
The majority of our clients are able to keep their homes despite the bankruptcy.
A bankruptcy petition normally eliminates ALL credit card debt.
Pensions and retirement funds are protected in a bankruptcy.
Filing a bankruptcy petition puts an immediate stop to any foreclosure, tax levy, wage garnishment, or lawsuit.
Personal income, tax debts over 3 years old from the date they are due are dischargeable under certain circumstances.

Preparing for your first appointment with our office

At your first appointment, we will want to know:

How much money you earn, and how much your spouse earns if you are married
What properties you own and their approximate value
What sorts of debts you have and the approximate amounts of those debts
Any other assets you have and the approximate value of those assets
After your consultation, if it seems like filing a bankruptcy is a good option for you, and you want to go forward, you will be asked to fill out a questionnaire with more detailed information on your financial situation. If you would like, you may view the questionnaire by clicking the button Questionnaire below.

Before filing your bankruptcy, we will need from you the following documents:

  • Federal income tax returns from the most recent tax year

  • Federal income tax returns from the year before that

  • Copies of your paystubs (if you are employed) for the past 6 months