How Often Can I Declare Bankruptcy?
If you have filed for bankruptcy before and received a discharge of debt, you need to wait before you can file for bankruptcy again. The federal bankruptcy code specifies when…
Bankruptcy is one of the worst situations that anybody faces in their lives. It is a situation where you are financially helpless and could not deal with different financial situations. In this case, you need to choose the professional chapter 7 lawyer San Diego.
When you hire professional and experienced bankruptcy lawyers, you get an opportunity for a fresh financial start. The best San Diego bankruptcy lawyer will easily take you out form this unfavorable economic situation.
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What is chapter 7 bankruptcy?
i) It is a type of bankruptcy that can make some of the debts dischargeable. It is also known as a reorganization bankruptcy. A trustee will be an in-charge who will carry out the assessment of your property and assets and sell them accordingly to pay the creditors.
ii) You will get great help from chapter 7 lawyer San Diego as they will offer superb outcomes by providing the most excellent bankruptcy filing services.
What are the requirements to file chapter 7 bankruptcy?
- The first requirement is that you have not filed chapter 7 during the past eight years, if you have done so, you can not file it now.
- There should be no filing for Chapter 13 bankruptcy in the last six years; if it happened, you can not proceed for Chapter 7 bankruptcy filing.
- If you have filed the chapter 7 or chapter 13 bankruptcy and if your bankruptcy filing got rejected, you need to wait until 181 days get completed.
- Sometimes even if you are eligible to file bankruptcy and complete all the legal formalities, the court rejects it. The court can dismiss the filing if it finds that you are trying to defraud your creditors.
When can you file Chapter 7 bankruptcy?
There are different types of bankruptcy filing, and you need to choose the one which can offer you the best results. chapter 7 lawyer San Diego is one option you can opt for to get the most excellent outcomes. Here are some situations that will let you file Chapter 7 Bankruptcy:
- Your annual income plays an essential role when it comes to paying back your debts. If your annual income is more than your debts, then you can not file chapter 7. But if your annual income is less than your debts, then you can opt for Chapter 7 bankruptcy.
- Cash flow is quite essential as it controls all the activities and makes them run smoothly in your business. But if there is no cash flow and you are left with no disposable income, you can file Chapter 7.
- There is a particular median level in every state, and if you have less monthly income than that, you can go for Chapter 7 bankruptcy. The best Bankruptcy lawyer San Diego services will always take out the filing process efficiently and smoothly.
How to file Chapter 7 Bankruptcy?
- If you want to have the successful filing and the best outcomes after the filing, you must look for the most excellent San Diego bankruptcy lawyer. When you choose the professional Bankruptcy lawyer, you will undoubtedly get the desired outcomes.
- The best bankruptcy lawyer San Diego will determine your economic situation and then carry out the successful bankruptcy filing, which will deliver the satisfying results.
If you are stressed about being bankrupt and looking for a San Diego bankruptcy lawyer, you can contact the BLC Law Center. Our lawyers have years of experience, and they will put their best foot forward to give you a fresh financial start…!!!
