Bakersfield Chapter 7 Bankruptcy Attorney
When people talk about bankruptcy, you will hear the term Chapter 7 come up again and again. If you have been considering filing for Chapter 7 bankruptcy, you are going to want to make sure that you know what you are doing. The truth is that while doing some research and reading on your own is always a good idea, you will need a lawyer who can provide some effective counseling to help you get through the process. If you are considering filing for Chapter 7, you should contact an experienced bankruptcy lawyer today. This is the only way to be sure that your filing will be approved and that you can come out of the process ready to begin anew.
Chapter 7 Bankruptcy Help for Kern County and Bakersfield
Both businesses and individuals can file for Chapter 7. Businesses and individuals file for this bankruptcy process when they can no longer afford to pay back their creditors. When an individual files for this process, they will be assigned a trustee by the court. The court will then take all of the individual's property into consideration. The property will then be divided into exempt and non-exempt property. The property that is considered to be non-exempt is given to the court-appointed trustee, who will then auction the property off and give the money to the creditors. Exempt property, such as household supplies, old cars, and clothing, are kept by the individual filing for Chapter 7.
Reliability, Integrity, Respect, Trust and Loyalty
When a business files for Chapter 7, the business will usually stop functioning. This is because the business itself is considered property and is never exempt. The only times when a business that has filed for Chapter 7 does continue to operate is when the court-appointed trustee decides to take it over and continue running the business. If you are a business owner, it is essential that you consult with a trustworthy lawyer before filing for Chapter 7.
Free Consultation With An Attorney
If you are considering filing for Chapter 7, whether you are an individual or run a business, you should consult with our Bakersfield bankruptcy lawyers. Contact our law firm at 661-952-9740 for a free case review and consultation regarding Chapter 7 bankruptcy. Our attorneys will carefully review your Chapter 7 petition and make sure that the information is accurate before it is shown before a court of law. Petitions are then filed with the Bankruptcy Court Clerk's office.