Four Facts About Bankruptcy Chapter 7 in Pomona CA
If you’re having financial problems, bankruptcy Chapter 7 in Pomona CA, could be the solution you’ve been looking for. Work with Winterbotham Parham Teeple, a PC to contact a lawyer who can provide you with assistance in this scenario. Before calling us at 800.400.9000 for a consultation, continue reading to discover crucial details regarding bankruptcy.
Not Everyone Qualifies for Bankruptcy Chapter 7 in Pomona CA
The goal of bankruptcy Chapter 7 in Pomona CA is for a person who is in a difficult financial situation and cannot pay their debts to have an option to get out. You must first pass what’s known as a “means test,” which determines if your case can continue under bankruptcy law.
If your income is greater than the median income for the state of residence and family size, in some cases, creditors have the right to file a motion requesting that the court dismiss your case under. It is up to the court to decide whether the case should be dismissed.
Most of Your Assets Are Exempt from Bankruptcy Chapter 7 in Pomona CA
Nine out of ten of our clients keep everything in a Chapter 7 bankruptcy. If you choose Chapter 13, you can keep the assets you choose, due to the fact that unsecured debts are what’s known as “as in full.” Regardless of which of these two types of bankruptcies you file, all assets must be listed when you file.
Your Attorney Will Explain Various Types of Improper Conduct That Could Impact Your Bankruptcy
To get your previous debts discharged, you must file a Chapter 7 lawsuit. However, the court may refuse your discharge if it determines that you engaged in specific types of unlawful behavior listed in the Bankruptcy Code. If this happens, the goal for which you filed the bankruptcy petition would be unsuccessful. The secret to a successful discharge is sound guidance.
There Are Exceptions to the Unsecured Debts That Can Be Discharged in Bankruptcy 7 in Pomona CA
There are some exceptions. You may still be responsible for most taxes; student loans; debts incurred to pay nondischargeable taxes; domestic support and property settlement obligations; most fines, penalties, forfeitures, and criminal restitution obligations; certain debts which are not properly listed in your bankruptcy papers; and debts for death or personal injury caused by operating a motor vehicle while intoxicated.
If a creditor believes that some of your debt came from fraud, theft, willful or malicious injury, or breach of fiduciary duty, and they can prove it, then they could keep the court from discharging your debt.
Call Us Now if You Want to Speak to an Experienced Bankruptcy Lawyer
When you require pre-petition preparation to make sure that your bankruptcy is properly prepared, you can turn to Winterbotham Parham Teeple, a PC. More than 90% of our clients maintain what they have and suffer no losses. This is what we are able to do for them by organizing, examining, and making sure that any specific exemptions that are permitted are used. For a consultation, contact us at 800.400.9000.