Santa Rosa Chapter 7 Bankruptcy Lawyers

Santa Rosa Chapter 7 Bankruptcy Attorneys

We live in trying economic times. The likelihood of falling behind on mortgage, high medical bills, or other payments increases every day. If you are one of the many people facing overwhelming debt, then Levy Carroll Law can help.

At Levy Carroll Law we help you understand your options when it comes to debt relief and Chapter 7 bankruptcy. Our team brings over 20 years of law experience to their newly founded practice to help you find debt relief. The team at Levy Carroll Law cares about helping people with their financial worries, and works diligently to offer various debt relief services.

Contact Levy Carroll Law or call 707-523-1515 to schedule a complimentary appointment. Having an experienced and caring lawyer on your side can make all the difference in debt relief and your bankruptcy outcome.

 

Is Chapter 7 Bankruptcy a Good Option?

When you are under stress from unpaid bills and unrelenting phone calls from creditors you need to look at your fears and possible solutions to your present situation. At Levy Carroll Law our experienced Santa Rosa bankruptcy lawyers help you weigh out the pros and cons of filing for Chapter 7 bankruptcy. We want the best solution for you personally and we will discuss debt consolidation and both Chapter 7 and Chapter 13 bankruptcy with you to find your best solution.

The following thoughts and fears may be running through your mind and we lay out some of the pros and cons of filing Chapter 7 bankruptcy below:

Your Challenges:

  • You are concerned your car may repossessed due to being behind in payments. 
  • You are afraid your job will be in jeopardy due to creditors calling your place of employment.
  • Your stress levels are so high from mounting debt and an inability to make any headway on your debts that you are not sleeping well.
  • You are concerned your home can be foreclosed on and you will have nowhere to live.
  • If you loose your home you are concerned that no one will rent to someone with bad credit or a bankruptcy.
  • The constant creditor calls are keeping you constantly on edge and effecting your home life.
  • You are concerned that your wages don’t cover your expenses now, yet they may be garnished leaving no able to meet your basic needs.
  • You see your credit plummeting due to lack of payments and possible charge offs of debts.
  • You feel like you don’t have a plan and so you don’t answer the phone when creditors call or contact you by mail.
  • Your family life has been severely strained and your debt situation is affecting your spouse and children.
  • You are concerned that your debt situation could permanently harm your marriage or career.
  • You are concerned that you will be sued by creditors.
  • You are concerned that bankruptcy will ruin your credit.
  • Your are afraid that you will lose your credit cards.
  • You are concerned that you will lose some of your possessions going through a bankruptcy.

Is Chapter 7 Bankruptcy a Good Option for You?

Chapter 7 bankruptcy is often referred to as a “straight” bankruptcy, in which most of your debts are discharged by the bankruptcy court and you have the opportunity to start on a fresh foot. Most importantly, Chapter 7 allows you to move on and rebuild your credit so you can continue with your life and start fresh.

In most cases, our clients do not end up losing anything — in fact, California has a fairly generous exemption list. You can keep most (if not all) of your personal belongings.

Many of our clients have some apprehension about the idea of bankruptcy. We understand that the idea of filing bankruptcy can seem daunting and overwhelming. Call Levy Carroll Law so we can help you make the best decision for your debt relief.

Possible Outcomes:

  • A chapter 7 bankruptcy is usually completed within 3-6 months putting an end to the agony you have been going through with creditors-you get a fresh start.
  • Your bankruptcy will remain on your credit for 7-10 years, but generally if you have had charge offs and late payments your credit can start improving once the bankruptcy has been discharged.
  • One to three years after a bankruptcy you are usually able to qualify for low balance credit cards and can qualify for a home loan, but at a higher interest rate.
  • Most of the time you’re able to keep all of your personal possessions, including: home, automobile, personal possessions, retirement, and work tools.  However, if you personal property which will not be protected there are other options including Chapter 13 bankruptcy.
  • Student loans, alimony, some taxes, and child support are not discharged in a bankruptcy, except within very narrow exceptions.
  • You will not be able to file Chapter 7 bankruptcy again for eight years although you may file a Chapter 13 bankruptcy earlier.
  • You future wages or earnings from your employer or business will be yours to keep.

What is Involved in a Chapter 7 Bankruptcy?

  • The process of filing for Chapter 7 begins with a means test to determine eligibility.
  • Our office will analyze your income, expenses and types of debts which is vital to determining your best course of action.
  • Zachary Carroll or Julie Levy walks each client through the process, collecting information and offering advice at each step.

Chapter 7 bankruptcy is a process of permanently eliminating (discharging) eligible debts by demonstrating to the bankruptcy court that you cannot afford to pay them. The moment you file for Chapter 7 bankruptcy, creditors must stop calling and harassing you. Chapter 7 bankruptcy is not right for everyone. If you are primarily concerned with avoiding foreclosure or repossession, or if you have a steady stream of income, Chapter 13 Bankruptcy may be your best option. Our legal team will explain the benefits and consequences of each type of bankruptcy as well as how they would affect your particular circumstances.