Bankruptcy Chapter 7 in Hesperia CA

These Are the Four Things You Need to Know About Bankruptcy Chapter 7 in Hesperia CA

If you are facing financial difficulties, bankruptcy Chapter 7 in Hesperia CA could be the answer you’ve been searching for. Work with Winterbotham Parham Teeple, a PC to talk to an attorney who can help you out of this situation. In the meantime, keep reading to learn essential factors about bankruptcy and then contact us at 800.400.9000 for a consultation.

The Purpose of Bankruptcy Chapter 7 in Hesperia CA

Bankruptcy Chapter 7 in Hesperia CA is designed for debtors in financial difficulty who do not have the ability to pay their existing debts. Debtors whose debts are primarily consumer debts are subject to a “means test” designed to determine whether the case should be permitted to proceed under bankruptcy Chapter 7 in Hesperia CA.

If your income is higher than the median level for California, adjusted for your family size, then creditors might be able to file a motion to request that your case is dismissed. The bankruptcy court will then consider your case to make a determination about whether or not your case should be allowed to continue.

Most Assets Are Exempt in Bankruptcy Chapter 7 in Hesperia CA

More than 90% of our clients keep every item. Because most unsecured debts are treated “as if in whole” under Chapter 13, you are allowed to keep whatever assets you choose if you file Chapter 13. All assets must be stated at the time of filing in both chapters.

If You Are Found to Have Taken Part in Certain Improper Conduct Then Your Bankruptcy Will Not Be Discharged

You want to file a Chapter 7 case to discharge your debts. However, keep in mind that if you are found to have taken part in specific types of improper conduct, the court might choose to not discharge your bankruptcy. Essentially, this means that it will not go through. This is yet another reason you need professional advice before filing.

Certain Unsecured Debts Cannot Be Discharged in Bankruptcy Chapter 7 in Hesperia CA

A few things are exceptions. Most taxes, student loans, debts incurred to pay nondischargeable taxes, domestic support and property settlement obligations, the majority of fines, penalties, forfeitures, and criminal restitution obligations, some debts that were improperly listed in your bankruptcy documents, and debts for fatalities or injuries brought on by driving while intoxicated may still be your responsibility.

If a creditor can demonstrate that portion of your debt was caused by fraud, theft, deliberate or malicious harm, or a violation of fiduciary responsibility, the court may not be able to discharge your obligation.

Call Today to Speak to a Bankruptcy Attorney

You can turn to Winterbotham Parham Teeple, a PC when you need pre-petition planning in order to make sure that your bankruptcy is prepared correctly. More than 90% of our clients get to keep everything and lose nothing. We are able to achieve this for them by planning, reviewing, and ensuring that all special exemptions allowed are taken. Call us at 800.400.9000 for a consultation.