Price Law Group-South Bay (Los Angeles) Articles Filing For Chapter 7 Bankruptcy

Filing For Chapter 7 Bankruptcy

By Price Law Group  Nov. 20, 2012 1:42p


If you are suffering from large outstanding debts, do not despair! There is hope on the horizon. With the help of a trained legal professional, you can file for bankruptcy under Chapter 7 and resolve your debts quickly and painlessly. Do not suffer under the brutal burden of financial debt any longer.

By filing for debt liquidation under Chapter 7, you can put an end to creditor harassment and begin the process of ending your debt today. Although the act of declaring yourself bankrupt can seem frightening or even embarrassing, remember that you are not alone. More than a million Americans such as yourself filed for Chapter 7 bankruptcy in 2011 alone. By contacting a trained attorney to guide you through the procedure, you can see just how easy the process can be.

Common Misconceptions

Once you have decided to declare bankruptcy, often the best choice is to try and qualify for Chapter 7 debt relief. There are a number of common misunderstandings about filing for bankruptcy, many of which have to do with this kind of filing. First and foremost, remember that filing for bankruptcy is not the end of the world! Millions of people just like you learn every year that there is life and a future after declaring financial insolvency. Secondly, your creditors will not be allowed to harass you or contact you once the bankruptcy process has started. Once you have begun, the courts will issue a stay preventing your creditors from calling you.

The most common misconception about Chapter 7, and one of the main reasons people are often frightened of filing for bankruptcy, is that all your property and assets will be seized. This is simply not the case! While Chapter 7 is often referred to as "asset liquidation", many if not all of your possessions will be exempt from repossession by court order. Your home, clothing, tools you need for work, household goods, and furniture are all almost always exempt from being taken away.

With A Bankruptcy Attorney, You Can End Your Debt ASAP

Armed with this information, hopefully you are now better equipped to make a decision regarding your financial woes. Remember, it is imperative that you contact an experienced attorney and discuss your specific financial situation before settling on any decisions. At the Price Law Group, our team has the skill and know-how necessary to guide you step by step through the bankruptcy process. If you need financial help in Los Angeles, we urge you to visit our website as soon as possible to learn more!

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