Chapter 7 Bankruptcy

What is bankruptcy?

Bankruptcy is a regulated under the United States Code, so it’s Federal law transaction. It allows either an individual, a business, or farmer to reorganize or discharge debt under the United States Bankruptcy Code.

Why would someone need a bankruptcy attorney?

The procedures are very complicated. There’s a lot of paperwork, and you are presenting this document to the U.S.Trustee’s Office. You need to make sure that you are providing the U.S.Trustee with all pertinent information required. Once you file a petition for bankruptcy your whole estate (assets and debt that an individual, corporation, business, or farmer may have) goes under the jurisdiction of the U.S. Trustee’s Office. So it’s very important that a person uses an attorney that is experienced and skilled in filing the bankruptcy petition, so that they can assure that they will have less problems in dealing with the Trustee’s Office, and get their bankruptcy approved.

What is the legal process involved in a bankruptcy?

Well the first process is determining whether or not you are a proper candidate for bankruptcy. When we talk about bankruptcies there are various types of bankruptcy. So the first part is determining number one, what the status of your debt is. Number two, is it something that you need to file bankruptcy or is it something that you can potentially correct outside of the bankruptcy proceedings? Number three, if you do file bankruptcy, the type of bankruptcy that you’re going to file; are you going to need a plan, or is it something where you want to file, and have all debt discharged that’s allowable under the guidelines? So, first of all it’s going to be determining the type of debt, then from there getting the appropriate type of assistance in preparing the petition, collecting all of your documents that are going to be needed for the petition, preparing the petition and finally filing it with the bankruptcy court.
Once the bankruptcy petition is filed with the bankruptcy court, all collection activity is stayed. What I mean by that is there are no further collection notices that the debtor will be receiving from any collector. That includes current mortgage statements, and any type of secured debt statements. You need to continue to make those payments, however you won’t receive any statements during the bankruptcy proceeding.
After the petition is filed you’ll be given a date to appear in front of the U.S. Trustee. That’s the opportunity for all collectors to appear to question the debt, or whether or not they believe there’s an appropriate bankruptcy proceeding, and to question the status of the debtor in their ability to file bankruptcy. In a quick proceeding, the debtor is going to appear in front of the Trustee and ask questions, and the hope is that the debt will be discharged, or the plan will be approved.

How does someone choose a bankruptcy attorney that’s right for them?

That is going to be on a case by case basis. The first part is going to be sitting down, and having a consult with the attorney. Most bankruptcy attorney’s provide a free consult; in fact Lindsey Law is one of those firms that provide the free consult. You will sit down with your attorney, and your attorney will ask you questions and will check your credit report. You need to make sure that the attorney that you chose is one that you have confidence in, and that you’re able to build a trust relationship with. It’s very important that the client trusts their attorney. Also, you want to make sure that attorney is knowledgeable, and has experience in bankruptcy proceedings.

What makes your firm unique when it comes to bankruptcy?

What makes Lindsey Law unique is that not only is Linda Lindsey experienced, skillful, and knowledgeable about the proceedings in the local Central District Bankruptcy Courts of California… She’s also an attorney that believes that every individual should be given a second chance. Bankruptcy proceedings are an opportunity to give the debtor a second chance to start over in life regarding their debt. We recognize that it’s a difficult decision when someone is determining whether to file bankruptcy; because it’s a difficult decision. Most people don’t take this process lightly, we recognize that and show compassion toward the client that walks into our office with questions about bankruptcy, or potentially seriously considering filing a Chapter 7 bankruptcy.

Why would you say someone should choose your firm for their case?

Someone is going to choose Lindsey Law to represent them in a Chapter 7 bankruptcy proceeding, because not only do they want a skillful and experienced bankruptcy attorney, but they also want someone that is not going to be judgmental. They want a professional that’s going to be in their corner, and walk them through this process. Someone that’s going to understand the everyday problems of the ordinary person and the fact that they’re in this position. But yet there’s an opportunity to start over. You want to be able to present their petition in the most accurate format to the Bankruptcy Trustee, and be able to address any questions prior to the proceeding so that the meeting with the Trustee is as smooth as possible. And that’s what you’ll get from Lindsey Law in a bankruptcy proceeding.

Contact the Lindsey Law office at (909) 801-7388 for assistance with your bankruptcy today!