Rancho Cucamonga Chapter 7 Bankruptcy Attorney
Chapter 7 Bankruptcy, also known as "fresh start bankruptcy" is the most common type of personal bankruptcy. Chapter 7 Bankruptcy is an option for individuals, married couples, corporations and partnerships who are facing bankruptcy. When filing Chapter 7 Bankruptcy you handover all of your non-exempt property to the bankruptcy trustee who then will liquidate it, and turn it into cash for distribution to your creditors. However, you are generally allowed to keep most of your personal property because the property is exempt under the California Bankruptcy Code.
Chapter 7 bankruptcy is generally the best course for people who are having trouble paying unsecured debts like credit card bills, medical bills, utility bills, and personal loans. It essentially wipes your debts clean giving you the fresh start you need.
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