We are a federally designated Debt Relief Agency under the United States Bankruptcy Laws. We assist people with finding solutions to their debt problems, including, where appropriate, assisting with the filing of petitions for relief under the Bankruptcy Code.
Orange County Bankruptcy Relief - Chapter 7
The prospect of declaring bankruptcy can be overwhelming for anyone.Often, people find themselves facing bankruptcy for reasons outside of their control and the possibility of losing your car or the roof over your head is terrifying. But what many people don’t realize is that the whole purpose behind the United States Bankruptcy Code is to allow someone who is in over their head in debt, to be able to wipe the slate clean and have a “fresh start.”
You may feel in over your head in debt and know that you are unable to pay back all of the debts that you owe but you may not know what you can do about it. You hear the word “bankruptcy” and it scares you. Not just because there is sometimes a perceived negative connotation to the word itself but also because you may know that there is more than one type of bankruptcy out there.
Only a licensed attorney is legally able to provide you with the advice associated with what bankruptcy chapter is right for you and the best thing to do if you are contemplating bankruptcy, is to gather as much information as you can and then take advantage of a free consultation with an attorney. To schedule a free, no-obligation consultation with Orange County Attorney Kristine Kyllander, contact us today.
The most common form of Bankruptcy takes place under Chapter 7 and is often referred to as a Chapter 7 Liquidation. The premise is that a Bankruptcy Trustee can sell (liquidate) all of your non-exempt assets to pay creditors of your bankruptcy estate after which time all remaining obligations are essentially erased by virtue of a discharge. The reality however, is that most debtor’s don’t have any non-exempt assets that qualify for liquidation and therefore there is nothing for the Trustee to sell, yet still all of your qualifying debts can be excused.
BANKRUPTCY MYTH #1: Bankruptcy often results in loss of personal possessions.
In fact, most people do not lose their personal possessions through bankruptcy. There are special provisions in the Bankruptcy Code called “exemptions” which are there primarily to protect your property.
Going through a Chapter 7 Bankruptcy is relatively inexpensive, simple, and takes only 3 – 6 months to complete. It is often a fantastic solution for someone who has a large judgment against them, medical bills they are unable to pay or if they have been unemployed for a period of time which has left them unable to pay their existing obligations. In general, if your monthly debts have been exceeding your income, you should consider contacting Kyllander Law for a case evaluation.
Kyllander Law charges a flat fee for representation in a Chapter 7 Bankruptcy and allows clients a payment plan option in non-emergency filing situations. For additional information on fees and costs associated with filing a Chapter 7 Bankruptcy, please visit our Free Article Index.