Chapter 7 Bankruptcy Exemptions Attorney in El Cajon, CA

Chapter 7 Bankruptcy Exemptions Overview

Chapter 7: Getting a Fresh Start

In today's troubling economy, many individuals are finding themselves frustrated by a wall of seemingly insurmountable debt. The Bankruptcy Code was written as a safety net for people who are too far behind to catch up. It's time to consider filing Chapter 7 bankruptcy so you can begin working toward a fresh financial future.

At the office of Thomas F. Miles Attorney and Counselor at Law, we will take the time to meet with you, examine your finances and help you determine if filing for bankruptcy is the best possible solution for your unique situation. We will explain the pros and cons of bankruptcy, and educate you about the steps you can take to begin rebuilding your credit rating.

Can I Keep My Car?

California and federal law allow for certain property like vehicles, clothing and furniture to be exempt from liquidation. The exemptions are fairly generous, and we can work through them with you following your free initial consultation.

Many clients can elect to go through a "reaffirmation agreement" with a car lender. This agreement is designed to reflect that you will pay for the car debt outside of the bankruptcy proceedings. Under this agreement, you are able to keep your car as long as you are making your payments. The continuance of your monthly payments can help rebuild your credit rating.

Following a successful means test – a test to determine if you are eligible to file Chapter 7 – you will immediately be granted an automatic stay. This stay gives filers protection from creditor's harassing calls and stops repossession of a car. This stay is respected by all collections agencies, including the IRS.

When the case is over, all unsecured debts will be discharged. Many debts are not dischargeable including student loans, fraudulent claims, support payments and drunk driving damages.

As soon as you think filing for Chapter 7 bankruptcy is an attractive option to resolve your financial troubles, it is in your best interest to speak with an attorney. The Chapter 7 process is fairly quick, and you want to make sure all paperwork is filled out and submitted on time. For more than 30 years, attorney Thomas F. Miles has provided legal advice and representation to individuals considering bankruptcy.

Other Frequent Case Types

• Chapter 13 Repayment Plan in El Cajon, CA

Areas of Practice

• Chapter 7 Bankruptcy Exemptions
• Bankruptcy