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Welcome to The Law Office of Charles A. May, your trusted partner for consumer bankruptcy matters in Costa Mesa. We understand that financial difficulties can be overwhelming, and we are here to guide you through the process expertly and efficiently. See below for an overview of Chapter 7 bankruptcy so you can better understand your options. For a free consultation tailored to your specific needs, contact our lawyer today.

Chapter 7 Bankruptcy: A Fresh Start

Chapter 7 bankruptcy offers individuals and families a fresh financial start by discharging most of their unsecured debts. This means that you can have certain debts wiped clean, giving you the opportunity to regain control of your financial future. Unsecured debts include credit cards, medical bills, personal loans, utility bills, student loans and more.

To qualify for Chapter 7 bankruptcy in Costa Mesa, you must meet certain income requirements. This is determined through a means test, which compares your income to the median income for your household size in California. Our knowledgeable team will help you navigate this process.

One of the immediate benefits of filing for Chapter 7 bankruptcy is the automatic stay. As soon as you file your Chapter 7 petition, the automatic stay goes into effect, stopping creditors from pursuing any further collection actions. This means no more harassing phone calls, threatening letters, or wage garnishments.

California has two sets of bankruptcy exemptions that allow you to protect certain assets from being liquidated during Chapter 7 bankruptcy. These exemptions include your primary residence, personal property, retirement accounts, and much more. Our team will navigate California’s bankruptcy exemptions for you, pinpointing those that may qualify you for a “no-asset” bankruptcy, allowing you to keep the property you desire.

The Chapter 7 Process

  1. Consultation: Your journey begins with a consultation at The Law Office of Charles A. May. We assess your financial situation and determine if Chapter 7 bankruptcy is the right option for you.
  2. Filing: If Chapter 7 is the best choice, we guide you through the paperwork, ensuring that all necessary documents are filed correctly and on time.
  3. Meeting of Creditors: Approximately a month after filing, you attend a meeting of creditors, also known as the 341(a) meeting. This is a required meeting for you, but most often no creditors show up, and you only spend a few minutes answering questions from the bankruptcy trustee. We help you prepare you for this meeting and will attend with you.
  4. Discharge: If everything goes smoothly, your debts will be discharged, giving you a clean slate. This typically occurs within a few months of filing.

The Benefits of Chapter 7

  • Debt Relief: Chapter 7 provides relief from overwhelming debt, allowing you to eliminate credit card balances, medical bills, and personal loans.
  • Fresh Start: With your debts gone, you can start rebuilding your credit and financial stability.
  • Retain Essential Assets: The exemptions available in California often allow you to keep your home, car, and personal belongings.
  • Quick Process: Chapter 7 bankruptcy is generally a faster process compared to other bankruptcy chapters.

Contact The Law Office of Charles A. May for Help With Chapter 7 Bankruptcy

The Law Office of Charles A. May is your source for Chapter 7 bankruptcy. Our team understands the complexities of bankruptcy law and will work diligently to ensure you receive the fresh start you deserve. Contact us today to schedule a consultation. We are here to provide you with the information and support you need to make the best decision for your financial future. Together, we can pave the way for a debt-free tomorrow.

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