Filing Bankruptcy in Fresno
Posted By Price Law Group
Fresno residents who owe credit card debt they can not pay or who avoid
creditor calls may be able to get a fresh start by
filing Chapter 7 or
Chapter 13 bankruptcy. Many individuals become overwhelmed with medical bills or an unexpected
divorce or death has created a financial crisis. If this sounds like you,
you are not alone. Individuals who are considering filing bankruptcy in
Fresno can contact a Fresno
bankruptcy lawyer for help.
Many people want to know when filing bankruptcy is the right answer, but
sometimes it is hard to know. Filing bankruptcy is a very difficult and
complicated decision and should be carefully considered. Filing bankruptcy
in Fresno should not be done before evaluating all of your other options.
Fresno bankruptcy attorneys can help review your personal finances and
explain current bankruptcy laws. You do not have to do this alone. Call
a Fresno bankruptcy lawyer today for help.
Filing Chapter 7 Bankruptcy in Fresno
Chapter 7 bankruptcy is the most common bankruptcy used to liquidate a
person's non-exempt assets and property and take the proceeds from
the liquidation to repay creditors (many Fresno residents will not have
assets to liquidate). If an individual files Chapter 7 bankruptcy in Fresno
they can expect their qualifying debts to be discharged usually within 4 months.
Bankruptcy laws have made it more complicated to file Chapter 7 bankruptcy
in Fresno, but a Fresno attorney can review all the new qualifications
with the debtor and determine if they should file Chapter 7 or Chapter
13 bankruptcy. Fresno bankruptcy lawyers can also file the bankruptcy
petition (list of income, assets, personal debts and exempt debts). A
trustee will then be assigned by the bankruptcy court to review the bankruptcy
petition, attend the 341 creditors meeting, sell all non-exempt property
and give the proceeds from the sale to the creditors. Filing Chapter 7
bankruptcy in Fresno can help Fresno residents eliminate debt and worry.
Filing Chapter 13 Bankruptcy in Fresno
Filing Chapter 13 bankruptcy in Fresno does not immediately discharge the
Fresno resident's debts but instead allows an individual to repay
their debt with a reorganized repayment plan. The bankruptcy repayment
plan generally allows the debt to be repaid over three to five years.
Filing Chapter 13 bankruptcy in Fresno allows Fresno residents who do
not want to sell their assets to keep them and repay their debts with
a modified repayment plan. Chapter 13 bankruptcy is only available to
Fresno residents who have a steady income and do not have unsecured debts
exceeding $269,250 or secured debt exceeding $807,750.
For more information call us at 866-210-1722 or fill out the form below.