At the Law Offices of Cynthia L. Gibson in Orange County, California, we provide clients with comprehensive representation in Chapter 7 bankruptcy matters. Our firm takes the time to explain Chapter 7 bankruptcy protection and how it can help you regain control of your financial situation. Contact us today to schedule your free in initial consultation.
An Experienced and Knowledgeable Gardena Chapter 7 Bankruptcy Attorney
A Chapter 7 bankruptcy, also known as a "liquidation" or "straight" bankruptcy, allows a debtor to eliminate most debt at the completion of the proceeding. In certain cases, tax debt could be discharged through Chapter 7 bankruptcy as well. In a Chapter 7 bankruptcy filing, the debtor provides the bankruptcy court with information about income and expenses and about assets and debts.
If assets need to be sold to satisfy the debtor's obligations, they are sold under the supervision of the bankruptcy trustee. The bankruptcy laws allow debtors to keep certain assets. In many cases, the debtor ends up keeping all of his or her property. A Chapter 7 bankruptcy is usually complete in three to six months.
Initial Consultation
When visiting the office for an initial consultation, it is important that you bring several documents with you, including:
- A recent pay stub
- Recent creditor statements (including mortgage, vehicles, student loans)
- List of monthly expenses
- Market value of any real estate you own
- Recent credit report (you should be able to download one at no cost by going to http://www.annualcreditreport.com)
Prior to Filing Chapter 7
Before you file for Chapter 7 bankruptcy, many different types of documents must be collected and reviewed. Below is a list of these documents:
- Pay stubs (seven months)
- Bank statements (12 months)
- Check register(s) or cancelled checks (12 months)
- Life insurance policies
- 401K, pension, retirement, IRA statements (most recent)
- Lawsuits
- Bluebook value of your vehicle(s) (can be found at www.kbb.com or www.nada.com)
- Tax returns (previous two years)
- Tax returns going back four years if you want to discharge tax debt
- Other financial information as needed
Our firm also assists clients with filing bankruptcy under the Chapter 13 bankruptcy laws.
Contact Us
Contact a California bankruptcy lawyer at the Law Offices of Cynthia L. Gibson today to learn more about your bankruptcy options during a FREE INITIAL CONSULTATION.
DISCLAIMER: This site and any information contained herein are intended for informational purposes only and should not be construed as legal advice. Seek competent counsel for advice on any legal matter.
Pursuant to 11 U.S.C. section 528(a)(4) of the bankruptcy code, we are required to state: we are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.