Roseville California Chapter 7 Bankruptcy Lawyer
Roseville Chapter 7 Bankruptcy Lawyer Ron Holland has helped over 12,000 clients and consumers with their debt problems since 1982. Call (916) 749-6456 today!
The Roseville California Chapter 7 bankruptcy lawyer at Holland Law is here to help you if you are considering filing for Chapter 7 bankruptcy. Chapter 7 bankruptcy is also known as a “liquidation” bankruptcy. If you are struggling to pay your bills, are facing debt collection calls, and want to set yourself free, the Chapter 7 bankruptcy lawyers in Roseville, California may be able to help. If you own few assets or no assets, you may be able to file for bankruptcy and still be able to keep household property, work tools, and possibly even your car (if it is under a certain value threshold). Most people who file for Chapter 7 bankruptcy lose nothing. Yet, there are consequences to filing for bankruptcy, which can include having the bankruptcy listed on your credit score for up to 10 years, reduction in your credit score, and difficulty getting loans or lower interest rates. Chapter 7 bankruptcy may impact your ability to get lower cost credit in the short term, but in the long term it can offer you a blank slate to start over and rebuild your financial life.
There are many common myths about why people get into debts they cannot pay. Some people believe that people who struggle with debt live beyond their means, but the reality is that many people find themselves underwater in debt because of sudden life changes like the death of a loved one, divorce, the birth of a new child, or sudden unexpected medical expenses. Other people find themselves suddenly laid off and unable to pay their bills. Many people live right on the edge of being able to make ends meet and not being able to satisfy basic financial obligations. Chapter 7 bankruptcy is a legal option available to individuals who are facing financial difficulties. If you are getting phone calls from collections and creditors, and want them to stop, Chapter 7 bankruptcy might be an option for you.
If you are looking to break free of the shackles of unmanageable debt, consider reaching out to the Roseville, California Chapter 7 bankruptcy lawyers at Holland Law today. Our Chapter 7 bankruptcy lawyers can review your situation, help you understand your options, and if bankruptcy is an option, assist you with the next steps. Contact the Roseville, California Chapter 7 bankruptcy lawyers at Holland Law today.
What Happens During Chapter 7 Bankruptcy
Many people are shocked at how quickly they experience relief once they file for Chapter 7 bankruptcy. If you are tired of getting phone calls from collections, or bills in the mail you cannot pay, when you file for bankruptcy, the court immediately puts a stop to all debt collection efforts. This means that debt collectors are no longer legally able to call you, or send you collections notices. The next step in the Chapter 7 bankruptcy process is that the appointment of a court-ordered trustee. This is a neutral third party who will review your assets, finances, and property, determining which assets are exempt (usually household goods like clothes and furniture, work tools, and your car, if it is under a given threshold value). Certain property may need to be sold during this process to pay debts. Jewelry, high value vehicles, money in your bank account, and any other valuables you might own that might not be exempt property. Once the non-exempt property is sold and used to pay off as much of the outstanding debts you have, your remaining debts will be discharged. This means that you will no longer be legally required to pay these debts and collectors can no longer make demands. In most cases, individuals lose no property and are able to discharge their debts without having to sell or lose anything. In order to qualify for Chapter 7 bankruptcy, you may be required to meet certain income limits. The Chapter 7 bankruptcy lawyers in Roseville, California at Holland Law can review your financial situation to help you understand what options you might have.
It is important to keep in mind that not all debts can be discharged through the Chapter 7 bankruptcy process. Alimony, child support, certain tax debt, and most student loans are not permitted to be discharged through Chapter 7 bankruptcy, though there may be some exceptions for certain student loan holders facing extreme financial burdens, and some multi-year tax debts. If you have questions about whether Chapter 7 bankruptcy is right for you, and whether your debts are eligible to be discharged, reach out to the Roseville, California Chapter 7 bankruptcy attorney at Holland Law today. Our Chapter 7 bankruptcy lawyers are here to help you every step of the way.
You deserve to be free. The Chapter 7 bankruptcy lawyers in Roseville, California at Holland Law are here to help you. Our Chapter 7 bankruptcy lawyers can review your situation, help you understand the potential consequences and benefits of bankruptcy, and assist you with the next steps. We are here to help. Contact our Roseville, California Chapter 7 bankruptcy lawyers today.