Huntington Beach, California, Chapter 7 Lawyer
Stuart A. McKenzie, Attorney at Law
Since the establishment of new bankruptcy laws in October of 2005, many individuals came to believe that they would no longer qualify for bankruptcy. This is not the case. There may be more specific processes to follow but most people still may qualify for a Chapter 7 bankruptcy.
At Stuart A. McKenzie, Attorney at Law, I have helped thousands of California residents deal with their Chapter 7 bankruptcy and financial issues. Having handled bankruptcy cases for over 30 years, I am fluent in the language of the new laws. As a bankruptcy lawyer, I can explain the new laws, assess your situation and determine if filing for Chapter 7 bankruptcy protection is in your best interests. Contact me today to schedule your free initial consultation.
What is Chapter 7 Bankruptcy?
The most common form of bankruptcy for individual consumers is called Chapter 7. Through this type of bankruptcy filing, you are able to get a "fresh start," as your debts will be discharged if you quality. This allows clients to start over since most of their debt has been erased. Chapter 7 may involve some asset liquidation, but mostly involves the dismissal of the debt that you have accumulated. A Chapter 7 filing will stay on your credit report for a number of years, but will allow you to get back on your feet.
The Means Test
When determining if an individual qualifies for Chapter 7 bankruptcy, a series of calculations called the Means Test is completed. This test is an analysis of the debtor's living expenses and debts to determine if there is enough disposable income with which to pay back some or all of the debts that are being claimed as reason for filing bankruptcy. If it is determined through the Means Test that there is enough income to reasonably repay some of the debt, the individual will then be disqualified from filing Chapter 7 and instead must explore the possibility of filing for Chapter 13 bankruptcy protection.
I can also assist clients in dealing with issues regarding the bankruptcy court, debt collectors, wage garnishment and harassing phone calls.
Contact me, an experienced bankruptcy lawyer in Huntington Beach, California, today to discuss your Chapter 7 questions or concerns. I can help you move toward taking control of your financial situation in order to begin rebuilding your credit.
The law firm of Stuart A. McKenzie, Attorney at Law, in Huntington Beach, California, represents clients throughout Orange County, California, in communities such as Anaheim, Irvine, Tustin, Newport Beach, Santa Ana, Westminster, Fountain Valley, Garden Grove, and Costa Mesa.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
