Eliminate Unsecured Debt With The Help Of Bankruptcy Attorney Chapter 7

If you are one from California and facing the prospects of bankruptcy then you have to choose between the two types available; chapter 13 or the chapter 7 bankruptcy. Usually debtors prefer the chapter 7 bankruptcy because in this case they are able to do away with most of the unsecured debts. This means they may not have to pay back the debts to the creditor. However the handling of the case requires professional expertise and legal knowledge and the bankruptcy attorney chapter 7 is the one to approach.

Why Approach the Lawyer?

But why should you approach the bankruptcy attorney chapter 7 for handling your case. The first of the reasons is that everyone is not eligible for this form of bankruptcy. Also; the plan may not save the home of the debtor and to make certain that the home does not meet with foreclosure it would be good opting for the chapter 13 bankruptcy and the repayment plan approved by the court of law. In any case it is the bankruptcy lawyer who can extend the right advice on the type of bankruptcy to be filed depending on the situation of the particular case.

Choosing the Right Bankruptcy Plan

Before filing any bankruptcy application it would be expedient learning about the California bankruptcy exemptions offered by each of the plan. A debtor can only qualify for the chapter 7 bankruptcies when he or she qualifies in the "means test". When the average of the monthly income of the debtor is equal to or less than the median income of the country; such person would be eligible for filing chapter 7 bankruptcy application. On the other hand if the average income of the debtor exceeds the median income and he or she has certain amount to invest in repayment of the loan then the debtor won’t be eligible for filing the chapter 7 bankruptcies but has to file the chapter 13 bankruptcy application.

When Chapter 13 Bankruptcy is More Appropriate

If the debtor wants to repay the debt to the creditor then the chapter 13 bankruptcy applications would be more appropriate. The California Bankruptcy Exemptions relating to the chapter 13 bankruptcy filing is that the debtor is allowed to repay debt over the plan period of 3 to 5 years according to orders passed by the court. The payment is made to the bankruptcy trustee by the debtor who on turn distributes the same among the creditors. However the debtor should have enough of disposable income for repaying all the priority as well as secured debts to the creditors. In many cases the chapter 13 bankruptcy filing can prevent the foreclosure of home permanently.

Immigration Law Firms in Los Angeles

There is some quality immigration law firms Los Angeles that have under their wings not only attorneys dealing with immigration cases but also experts in the field of bankruptcy. They have proficient lawyers who can deal with ease and confidence with either chapter 7 or chapter 13 bankruptcies depending on the specific needs and situation of the client.

If you want to eliminate unsecured debt then chapter 7 bankruptcy is your answer. Approaching one of the reputable immigration law firms Los Angeles could be the ultimate solution for your problems.

I am Nancy and publishing the Bankruptcy Lawyer in Torrance is dedicated to consumer protection and vigorously defending the rights of our clients.