Chapter 7 Bankruptcy

A Fresh Start

Chapter 7 bankruptcy, also called liquidation, is the most common type of consumer bankruptcy.  Chapter 7 bankruptcy completely eliminates dischargeable debt forever.  Individuals who file for Chapter 7 Bankruptcy relief have proven to the court that they have no realistic means of repaying any significant portion of their debt in the foreseeable near future.

A successful chapter 7 bankruptcy case will legally excuse the debtor from having to repay any discharged debts.  The vast majority of our chapter 7 bankruptcy clients are able to keep everything they own through asset protection laws (also called bankruptcy exemptions).  A typical Chapter 7 Bankruptcy case takes about four months from start to finish.

The Chapter 7 Process in a Nutshell

In most cases, filing Chapter 7 Bankruptcy is a piece of cake, or easy as pie (depending upon your dessert preferences).  Here's how it works:

1.  Free Bankruptcy Consultation

Call 888-362-6529 or complete the Free Evaluation form (to the right) and we will schedule your free consultation at your convenience.  Then, download our Client Intake Form and bring it with you to your free bankruptcy analysis.  We will analyze your scenario, and if you qualify for bankruptcy we'll get to work immediately.  We'll send each creditor a "Cease and Desist Notice" so they stop bugging you, ending creditor harassment.  You then get started on your chapter 7 bankruptcy homework packet, and begin feeling the relief.

2.  Petition Preparation

Complete your chapter 7 Bankruptcy Worksheets and attach the supporting documents, such as paystubs and tax returns.  You will also have to obtain your "permission slip" (pre-filing consumer credit counseling certificate) by completing a brief online course.  A chapter 7 bankruptcy case manager will prepare your case for the bankruptcy attorney to personally review with you.  Once we all agree it is accurate and complete, we will file it with the United States Bankruptcy Court.  All creditor activities are legally stopped! 

3.  341 Meeting of Creditors

There is no need to be nervous.  One of our attorneys will accompany you at your 341 Meeting of Creditors, which should last no more than a minute or two.  Do not worry or be stressed out.  There's no judge involved at this hearing.  It is merely to provide the trustee with acknowledgment that you are the person whose name appears on the bankruptcy paperwork, and that the information is correct.  At the conclusion of this meeting, most cases are basically complete.

4.  Discharge

Your Notice of Bankruptcy Discharge will usually come in the mail within three to four months of the conclusion of the 341 meeting. 

5.  Create a Will or Living Trust

You don't need to have lots of money or assets to have a will or a trust.  Now that you are debt-free, it is time to think about who you want to administer your estate when you die; a trusted family member or friend, or the state?  Do you want the state to determine who gets your 401k, or do you want to designate your own beneficiaries?  Contact us for more information about our estate planning services. 

Stop Suffering

There is no need to suffer needlessly at the hands of abusive creditors.  After bankruptcy most of our bankruptcy clients enjoy an increase in not only their general peace of mind, but in their credit and FICO scores as well.  This is usually due to the fact that there is no more unsecured debt.

The Doan bankruptcy attorneys have collectively filed tens of thousands of successful bankruptcy cases over the last two decades.  Our California bankruptcy offices are located throughout Southern California, and we provide bankruptcy help throughout the entire state of California by phone and over the internet.