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Chapter 7 Bankruptcy

Glendale Chapter 7 Bankruptcy Lawyer

If you are struggling with overwhelming debt, the thought of filing bankruptcy may have crossed your mind. Understanding the bankruptcy process and the types of bankruptcy available is important before making a decision. You should also speak to a bankruptcy attorney, who can analyze your financial situation and help you determine which option is right for you.

To schedule a free consultation at the Glendale Law Offices of Liana Stepanyan, please contact us. Speak to a Glendale Chapter 7 bankruptcy attorney today by phone at 818.334.2932.

What Is Chapter 7 Bankruptcy?

Chapter 7 bankruptcy is a type of bankruptcy for consumers that wipes out debt. Often, an individual is able to keep most of his or her property when filing Chapter 7 bankruptcy. However, individuals may be required to give up certain assets in order to settle debts with creditors.

Once an individual files for Chapter 7 bankruptcy, an automatic stay goes into effect, which puts an immediate stop to creditor harassment, any pending lawsuits and auto repossession.

Qualifying for Chapter 7 Bankruptcy

In order to determine eligibility for Chapter 7 bankruptcy, an individual must pass a bankruptcy means test. This test considers an individual's average monthly income over a period of time and other factors.

The vast majority of individuals who wish to file Chapter 7 bankruptcy still can despite changes to the bankruptcy code in 2005. However, if you do not qualify, you may still be eligible to file Chapter 13 bankruptcy.

Contact a California Debt Relief Attorney

If you are interested in learning more about debt relief through Chapter 7 bankruptcy, please contact the Law Offices of Liana Stepanyan.

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220 S. Kenwood Ste. # 340
Glendale, CA 91205
Phone: 818.334.2932
Toll-Free: 866.718.0496
Fax: 818.662.8025

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