Chapter 7 Bankruptcy Lawyers in Orange County

Providing Clients with Effective Legal Services for 30+ Years

If you are in severe debt, filing for Chapter 7 bankruptcy may be the perfect solution to your financial problems. This chapter of bankruptcy releases an individual from debts that they are unable to pay off. The types of debt that it typically discharges includes finance company loans, credit card bills, and medical bills. Under Chapter 7, you may even be able to keep your car and home while eliminating other debts.

At The Law Offices of Joseph M. Tosti, APC, our Chapter 7 bankruptcy lawyers in Orange County have spent more than three decades representing clients in this area of law. We can help you, too. Our attorneys have a comprehensive understanding of bankruptcy law in addition to a long track record of success. We can efficiently navigate you through the complex legal process and ensure your rights are protected throughout.

About Chapter 7 Bankruptcy

Before filing for Chapter 7 bankruptcy, a person needs to undergo what is called a means test in order to determine if they are eligible. Since this chapter of bankruptcy releases qualifying individuals from a large amount of debt, the government uses the means test to differentiate between who truly needs the assistance and who does not. This test essentially takes into account all of your liabilities and assets, properties, bank accounts, and all other financial information. The paperwork for the means test and the process for filing for bankruptcy are both lengthy, complex, and require utmost care in their completion. If done incorrectly, you could be found ineligible.

Our Chapter 7 bankruptcy attorneys in Orange County can help you by:

• Providing you with individualized and caring legal services during this difficult time
• Using our more than 30 years’ experience to help you make the right decisions
• Strongly representing your best interests and protecting your rights at any hearings
• Helping you organize your finances and assisting you with all of the confusing paperwork

Chapter 7 Bankruptcy Timeline

For those who don’t know what is ahead of them, filing for bankruptcy, or even just the thought of filing can be very intimidating. You might be dreading the uncertainty of what lies ahead in the days, weeks, and months following your bankruptcy Chapter 7 filing. To help you better understand how long it takes to file for bankruptcy, here is a brief overview of the Chapter 7 bankruptcy timeline.

• Before Filing: To be able to file for Chapter 7 bankruptcy, you are by law required to complete a credit counseling course. This course can be completed either by phone or online and normally takes around 90 minutes.

• Step 1 – Filing: To officially file for bankruptcy you must bring your completed mandatory paperwork over to the appropriate court. Your automatic stay will immediately begin once you have officially filed.

• Step 2– Provide Documentation to Your Trustee: Within a few days of your filing, your case will be assigned a bankruptcy trustee who will oversee affairs and liaise between you and your creditors. You will need to provide the trustee with your most recent tax return, pay stubs, and other documents they ask for.

• Step 3 – Attend a Creditor’s Meeting: Your trustee will arrange a meeting with your creditors that you’ll need to attend. This will happen roughly 30 days after your official bankruptcy Chapter 7 filing. These meetings usually don’t last more than 15 minutes or so, and some even last less than five minutes. These meetings are usually short in length because most of the time your creditors themselves don’t show up. Your trustee will ask you a few questions about your paperwork while under oath and once the trustee has gotten answers to their questions, the meeting is over.

• Step 4 – Mandatory Budget Counseling: You have to complete a budget counseling course by phone or online, no more than 60 days after your creditor’s meeting. You will get a certificate of completion that you have to file with the court to let them know you have completed this required process.

• Step 5 – Obtain a Discharge: Your creditors will over the next two months or so have the opportunity to object to your debts being discharged, and if you have any, your trustee will make arrangements for you to transfer any non-exempt property to them for liquidation. When this process is finished, you will get a notice sent to you from the court letting you know that your debts have been discharged. This is the official completion of your case.

Keep in mind, your personal case is unique, and in order to complete it, it might have its own obstacles that must be overcome. To get a better understanding of how your own timeline would look like, we highly advise that you speak with an experienced Irvine Chapter 7 bankruptcy lawyer who can inform you of your options.

Call (949) 245-6288 for a Free Consultation

Our highly experienced legal team will sit down with you during a free case evaluation and help you determine if you are eligible for Chapter 7 bankruptcy. If so, we can help you determine the best course of action and immediately start working on a strong case strategy for you. You can count on us to be there for you when you need us most.