Stockton ch. 7 bankruptcy, what is it?
A Stockton ch. 7 bankruptcy is a liquidation if assets. A trustee will take all your belongings except exempt property and sell it all to pay off your debts. Once your Stockton ch. 7 bankruptcy is complete you will have that fresh start that you and your family have been longing for. There is a chance when you use a Stockton ch. 7 bankruptcy that you can lose your home. This depends on the state that you reside in. Call a law attorney today to see if a Stockton ch. 7 bankruptcy is the right fit for you! Stockton ch. 7 bankruptcy
For a free fifteen minute consultation with our expert bankruptcy lawyer Contact a bankruptcy expert today about Stockton ch. 7 bankruptcy or give us a phone call (209) 266-0316
What was Stockton ch. 7 bankruptcy designed for?
Stockton ch. 7 bankruptcy is a liquidation. This is a bankruptcy that eliminates unsecured debts. Those debts are, medical bills, credit cards, utility bills, pay day loans and some personal loans. Want to know how a Stockton ch. 7 bankruptcy will work for you? Call an attorney today for a free case evaluation to see if Stockton ch. 7 bankruptcy is right for you.
How do I avoid liens with a Stockton ch. 7 bankruptcy?
There are some liens that can be avoided through a Stockton ch. 7 bankruptcy. However, it is a limited ability. Household goods definition was changed to limiting “electronic equipment” to on t.v, radio, dvd/vcr player, computer ect. Also, the new “definition” excludes work of art that you or a reative did not make such as, jewelery worth 5000 or more (excluding wedding bands) and motor vehicles. Prior to BAPCPA household goods had a broader range so you could include more items than one of each electronic item (dvd player, t.v., ect.).
Stockton ch. 7 bankruptcy for businesses.
If you have a business and are in debt a Stockton ch. 7 bankruptcy can be filed in federal court. If you chose to file a Stockton ch. 7 bankruptcy this ceases all operations unless the trustee continues them. You will be apppointed a trustee by the courts almost immediately. Your trustee will sell and/or distribute all proceeds to your creditors. There is a possibility that all of your employees will lose their jobs. When a large company enters into a Stockton ch. 7 bankruptcy there is a possibility that full divisions of the company will be sold to other companies during the liquidation process.
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Please call for a free fifteen minute consultation with one of our bankruptcy lawyers Contact us today or give us a call (209) 266-0316 Our office easy to find and open from 8:00am to 6:00pm. If you prefer an appointment on the weekend, simply give us a call and we will schedule you a convenient time. We are always flexible with your schedule and we will make sure you get your problems resolved.
We have experts that will help you file for bankruptcy under Federal Bankruptcy Law.