Chapter 7 Bankruptcy

Eliminating Debts You Simply Cannot Afford

Unpaid debts can have increasingly stressful consequences, from harassing phone calls to wage garnishment and beyond. If you have debts you cannot afford to pay, filing Chapter 7 bankruptcy may help you permanently eliminate those unsecured debts.

I’m Ivan Trahan, an experienced bankruptcy attorney based in Temecula, California. I have helped thousands of clients get debt relief with the help of Chapter 7. Contact me to schedule a free consultation to discuss whether this is the right bankruptcy option for you.

Understanding How Chapter 7 Bankruptcy Works

Maybe you borrowed on credit cards to keep your business going, only to have the business fail due to poor economic conditions. Maybe you needed an emergency medical procedure and are now stuck with massive hospital bills you cannot afford.

People in these situations and many others have been able to get a fresh start by discharging — eliminating — their debts in Chapter 7 bankruptcy. A successful Chapter 7 filing permanently removes your obligation to pay certain types of unsecured debts, including:

  • Credit card debts
  • Unpaid medical bills
  • Unpaid taxes more than three years old
  • Deficiency balances on repossessed vehicles

You may have heard Chapter 7 bankruptcy referred to as “liquidation.” That is because the bankruptcy trustee has the authority to sell off non-exempt property to partially repay your creditors. However, in California, many types of property are exempt, so you are able to keep them.

An Experienced Lawyer Guiding You Through the Process

Since 2005, it is necessary to pass a means test before you can file Chapter 7 bankruptcy. If your earnings and income are too high, you will not be able to file under Chapter 7. However, most people who need the protections offered by bankruptcy are able to qualify with some planning.

I am familiar with the complexities of bankruptcy law in California. In my more than 35 years of bankruptcy practice, I have helped many clients get out of debt with the protections of Chapter 7 bankruptcy. Contact me to learn more about your options.