Torrance Chapter 7 Bankruptcy Attorney

Navigating Chapter 7 Bankruptcy With Legal Expertise

Are you drowning in debt, struggling to make minimum payments, or already in default and facing credit collection actions? Chapter 7 bankruptcy offers you a chance to achieve debt relief. At the Law Offices of James C. Shields, we are adept at handling all aspects of Chapter 7 bankruptcy and guide our clients through the process. We will put our skill and experience in bankruptcy law to help you get a fresh financial start.

Seeking Debt Relief in Torrance? Contact Us for Chapter 7 Bankruptcy Assistance! Reach out at (310) 626-4404. Serving Santa Monica to Long Beach!

Eligibility Criteria for Chapter 7 Bankruptcy

To qualify for Chapter 7, you must:

1. Pass the means test.
2. Complete a credit counseling course that is approved by the U.S. Bankruptcy Trustee within 180 days before your filing.
3. Not have had debt discharged from a prior bankruptcy.
4. Not have a prior bankruptcy case that was dismissed 180 days ago.
5. You have not defrauded creditors.

Are you struggling against debt? See if Chapter 7 is the right solution for your situation by speaking with our Chapter 7 lawyer in Torrance at the Law Offices of James C. Shields. We have years of experience and we are prepared to guide you to a fresh new start.

Understanding Chapter 7 Bankruptcy 

We help people who are overwhelmed with debt. Chapter 7 is also known as liquidation bankruptcy because it liquidates your assets and uses the proceeds to pay back your debts. Remember though, most people who file do not have significant assets to begin with, so there is usually little to lose.

Debts that Chapter 7 bankruptcy will discharge include:

• Credit card debt
• Medical debt
• Many judgments against you
• Personal unsecured loans

Filing for Chapter 7 bankruptcy will immediately protect you from:

• Creditor harassment
• Foreclosure and repossession
• Wage garnishment and bank levies

Our experienced chapter 7 attorneys in Torrance will guide you through all aspects of filing: preparing all necessary documents and making the appropriate motions to the bankruptcy court. Before filing, we will help you explore your debt relief options to determine if, perhaps, Chapter 13 bankruptcy is a better option for you. No two cases are alike. We will tailor our legal approach to your unique situation.

How Often Can You File Chapter 7 Bankruptcy?

In California, you must wait eight years before you can file for Chapter 7 bankruptcy again. The eight year waiting period starts from the original filing date. You can technically file for Chapter 7 bankruptcy before the eight year waiting period is up, however a second discharge won’t be accepted. If you filed for Chapter 7 bankruptcy and are planning on filing for Chapter 13, you will have to wait four years to file for your second bankruptcy.

Top Advantages of Filing for Chapter 7 Bankruptcy

• Immediate Debt Relief: Chapter 7 bankruptcy discharges certain types of debts, such as credit card debts, medical bills, and personal loans. This means that you no longer have the legal obligation to repay those debts.
• Opportunity for a Fresh Financial Start: Chapter 7 bankruptcy provides a fresh start for individuals or businesses struggling with overwhelming debt. It can eliminate the stress and anxiety associated with unmanageable debt and provide a clean slate for financial recovery.
• Automatic Stay for Creditor Protection: Filing for Chapter 7 bankruptcy initiates an automatic stay that prevents creditors from trying to collect your debts. This includes stopping harassing phone calls, letters, or lawsuits.
• Efficient Bankruptcy Process: Unlike some other types of bankruptcy, Chapter 7 bankruptcy is a relatively quick process, often taking only a few months to complete.
• Exemptions to Protect Your Assets: Individuals filing for Chapter 7 bankruptcy may be able to keep certain assets, such as their primary residence, a car, and personal property, through the use of exemptions.
• Stress Reduction Through Debt Elimination: Filing for Chapter 7 bankruptcy can relieve the stress and pressure of overwhelming debt, allowing individuals or businesses to focus on rebuilding their financial stability and planning for the future.

Contact Our Torrance Chapter 7 Bankruptcy Lawyer Today 

If you have questions about filing for Chapter 7, our Torrance bankruptcy lawyers are standing by to help. Contact the Law Offices of James C. Shields today by calling (310) 626-4404. You can also fill out our free initial online consultation form to discuss the details of your case. Our attorneys are also available to meet on Saturdays or before or after regular business hours by appointment.