San Francisco Chapter 7 Bankruptcy Lawyer

If you are facing overwhelming debt, you make think there are no options left. With creditors hounding you all the time, and financial stresses stacking up, it may be time to consider filing for Chapter 7 bankruptcy. You likely have questions and concerns about filing for bankruptcy. You may be especially concerned with how bankruptcy will affect your financial future. Filing for bankruptcy can be a complicated process. Not everyone is eligible to file for bankruptcy. Read below for important information regarding Chapter 7 bankruptcy.

Filing for Chapter 7 Bankruptcy in San Francisco.

There are different types of bankruptcy as defined by law. Your specific financial situation will determine whether you qualify for bankruptcy, and if so, which type. In San Francisco, the most common type of bankruptcy filing is for Chapter 7. Individuals, as opposed to businesses or other entities, can file for Chapter 7 bankruptcy. Before filing for bankruptcy, you must qualify for Chapter 7 by either:

  • Earning less than the median income for a California household of your size; or
  • Being unable to pay your debts with your disposable income.

After ensuring that you qualify using the above criteria, you will begin a lengthy legal process. At the end, you may be able to discharge, or avoid paying, a lot of debt. Even though bankruptcy can be daunting, it may your best path toward financial relief and a more secure financial future. An experienced bankruptcy attorney can help you determine whether you qualify to file for Chapter 7.

How Can Bankruptcy Help?

Filing for Chapter 7 bankruptcy allows a person to discharge debts specified in the law. It is important to note that not every kind of debt can be discharged through Chapter 7. Some types of debts that will not be discharged through Chapter 7 include:

  • Student loans;
  • Alimony;
  • Child support obligations;
  • Federal tax liens;
  • Court fines; and
  • Attorney’s fees in certain cases.

One of the most important, and most complicated, steps of starting your bankruptcy case is compiling all of your financial data. You need to gather your information to determine what type of debt you own. You will also need a detailed list of your assets and property, as some may be sold off to pay your debt. When undergoing this essential step, you may feel overwhelmed by your financial woes. Regardless of how overwhelming your debt may seem, you do have legal options that provide relief.

After your bankruptcy case is complete, you can move forward with your financial future. Even though it will take time to rebuild your credit after bankruptcy, your financial situation will likely be greatly improved. Instead of dealing with harassing creditors and making ends meet, you can focus on rebuilding financial security.

Contact Local Chapter 7 Bankruptcy Firm

If you live in San Francisco and are considering filing for bankruptcy, contact the Law Offices of Melanie Tavare today. Our experienced legal team understands the pressures you are facing, just as we fully understand bankruptcy laws. We will work closely to determine the best course of action in your case. Contact us today to schedule a free consultation.

The Law Offices of Melanie Tavare is a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.