San Mateo Bankruptcy Lawyer
Chapter 7 Bankruptcy Lawyers in San Mateo County
Filing bankruptcy is not the end of the world. It will be the start of living life without harassing phone calls and struggling to make credit card payments plus other expenses. All of our consultations are free and with an attorney. We pride ourselves on providing the best bankruptcy experience for a reasonable fee. Call us toll free at 1-877-963-9543.
There are two different ways to qualify to file bankruptcy under Chapter 7 of the bankruptcy code. During your free consultation with our Chapter 7 bankruptcy lawyers in San Mateo County you will discuss your income, expenses and assets. The first way to qualify to file Chapter 7 is if you median income is less than the median income for the State of California based upon the number of people in your household. If so, you will automatically qualify to file chapter 7. The other was is if you pass the means test. If you pass the means test that means that after including your allowable expenses in the means test you do not have any monthly disposable income to pay your creditors each month.
When filing a chapter 7 and you have a car loan or a home, as long as you are current on the monthly payments and can afford to continue to make the monthly payments, there is no reason why you should not keep your cars or home.
A Chapter 7 bankruptcy is sometimes called the liquidation chapter. You must disclose all of your assets and their value. The applicable bankruptcy exemptions can only protect so much. The good news is that in most bankruptcy cases the California exemptions will protect all of the stuff you own.
Our Redwood City Office is conveniently located just off Highway 101. There is plenty of free parking.
By
Ryan
C. Wood