Chapter 7 Bankruptcy
Kosnett Law files Chapter 7 Bankruptcies all over Los Angeles and Orange Counties. For individuals Chapter 7 bankruptcy gives you a fresh start. The elimination of certain debt frees you from liability for the debts. You will keep your future income, rather than being burdened for years by payments to creditors. Filing Chapter 7 Bankruptcy has many advantages. Some of the more important ones are as follo
- New property is yours – The property you acquire after filing Chapter 7 is not included in the bankruptcy estate, meaning you keep it (with some exceptions that we will review with you.)
- Unlimited Debt Forgiveness – Chapter 7 bankruptcy doesn’t impose a limit on the amount of debt you may eliminate.
- No repayment plan – Under Chapter 7, the debtor does not have to repay debt in a court-approved repayment plan; you are no longer responsible for repaying the debt after discharge.
- Speed – The typical Chapter 7 case is over relatively fast, in as little as three months, unless there is property to be sold and distributed, in which case a longer time can be expected.
- Stop Harassment – Filing Chapter 7 starts the automatic stay, forcing creditors to stop contacting you, performing repossession or foreclosure.
- Keep your property – Exemptions in the law allow you to keep most if not all of your property. The elections and the applications of exemptions are tricky and critical to maximizing what you keep. It is here that hiring the right legal team will make all the difference to what you keep.
- Rebuild your credit – Chapter 7 bankruptcy may damage your credit at first, but Chapter 7 will allow you to rebuild it much faster than continuing to languish in debt after defaults and late payment are building up. We will guide you in this process.
- Stop Foreclosure – If you’re behind in your home mortgage payments, Chapter 7 will buy you extra time to live in your home. Chapter 7 bankruptcy will not erase your mortgage but it can give you some extra time to restructure your finances if you are in foreclosure.
- Work out Automobile loans – Chapter 7 bankruptcy gives you options: you can surrender your car, affirm the debt, or redeem the vehicle. If the car is worth less than you owe, you may be able to pay the cash value of the vehicle.
What Kosnett Law will do for you.
We are a full-service law firm. Please compare the services we offer with what is offered by so called “discount” firms. You will find that you will get much more for your money with Kosnett Law. Filing bankruptcy under Chapter 7 requires careful preparation and understanding of legal issues. We will help you navigate these issues. Misunderstandings of the law or making mistakes in the process can affect your rights. Court employees, bankruptcy judges, Paralegals and Bankruptcy Petition Preparers will not help you because they are prohibited by law from offering legal advice.
- We will take the time to listen to your unique story and situation by and extensive interview. We will review all of your financial documents. We will also obtain your credit report and review it with you.
- We will explain the relief available under each of the Bankruptcy Codes. We will also review with you other options that may be appropriate such as debt consolidation, mortgage litigation, repayment plans and other defenses that may be available, based on your situation.
- We will advise you on whether your debts can be discharged.
- We will advise you on what property you can keep after you file.
- We will advise you of the tax consequences of filing.
Once retained we will perform the following services:
- We will prepare and file your petition, schedules, and all required statements.
- We will provide emergency notices to creditors where pending actions such as foreclosure or wage garnishment threaten the immediate loss of your property to stop these actions.
- We will work with the Bankruptcy Trustee to provide all necessary documents and facts concerning your case.
- We will meet with you to prepare you for the §341a meeting. We will attend and represent you at the meeting or any subsequently requested examinations.
- We will make any amendments that are necessary following the meeting.
- We will file your post BK counseling certificate and monitor your case until the discharge is entered.
Give us a call for a free consultation today.
Now John and James have joined forces to fight for you. Kosnett Law is here to help consumers and small businesses combat the overwhelming power of creditors, banks and the government. We are here to help stop the madness, get you on the road to financial health and get you back in business. We know that all paths to financial hardship are not the same and we understand that the needs of our clients are very diverse. That is why we offer a variety of solutions to our clients. Our solutions include, litigation, loan modifications, foreclosure defense, bankruptcy (Chapters 7, 11 Sub V, and 13) and estate planning. We provide you with the most complete solution to your debt-related issues no matter how you got here.
The services offered by Kosnett Law firm may involve a recommendation to file for Bankruptcy relief under the United States Bankruptcy code. We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.