Four Things You Need to Know About Bankruptcy Chapter 7 in San Bernardino CA
bankruptcy Chapter 7 in San Bernardino CA may be the answer you’ve been looking for if you’re having financial problems and don’t know how to solve them. We at Winterbotham Parham Teeple, a PC can assist you in locating an exit. Continue reading to understand some of the most crucial details of this kind of bankruptcy, and if you need a consultation, get in touch with us at 800.400.9000.
Understand the Goal of Bankruptcy Chapter 7 in San Bernardino CA
bankruptcy Chapter 7 in San Bernardino 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 San Bernardino CA.
In specific situations, creditors have the right to submit a petition asking the court to dismiss your case if your income is higher than the median income for the state in which you live and the size of your household. The court will determine whether or not to dismiss the bankruptcy.
Most of Your Assets Are Exempt from Bankruptcy Chapter 7 in San Bernardino CA
Over 90% of our clients keep everything. In Chapter 13, you keep all assets you choose, because most unsecured debts are ‘as if in full’. In both chapters, all assets must be listed at the time of filing.
If You Are Found to Have Taken Part in Certain Improper Conduct Then Your Bankruptcy Will Not Be Discharged
To get your debts forgiven, you want to file a Chapter 7 lawsuit. However, keep in mind that the court could decide not to discharge your bankruptcy if it is shown that you participated in a certain form of inappropriate behavior. In essence, this indicates that it won’t be approved. You should seek expert guidance before filing for another purpose.
Certain Unsecured Debts Cannot Be Discharged in Bankruptcy Chapter 7 in San Bernardino CA
While most general unsecured debts can be discharged in a Chapter 7 bankruptcy, there are some exceptions. For example, you will still have to pay most back taxes, your student loans, any debts you incurred to pay nondischargeable taxes, spousal support, property settlement payments, the majority f fines, forfeitures, penalties, and other criminal restitution you owe, debts that were not listed correctly in your papers, and debts for personal injury and/or wrongful death that stem from operating a 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
To ensure the best protection possible, Winterbotham Parham Teeple, a PC offers pre-petition planning. More than 90% of our clients maintain their whole investment. This is accomplished via meticulous preparation and the use of all legal exemptions. To begin, call 800.400.9000 right away.