Millions of people file for bankruptcy in the US. While there are several types to choose from, Chapter 7 is a hot favorite due to its many benefits. About 75 percent of all bankruptcy applications are of Chapter 7.
Chapter 7 is a type of bankruptcy that “provides for "liquidation" - the sale of a debtor's nonexempt property and the distribution of the proceeds to creditors”.
There is an emphasis on the word ‘nonexempt’ as Chapter 7 only involves selling certain assets and protects several properties to an extent.
It has a success rate of around 90 percent, which is a major reason why around 75 percent of all people who choose to apply for bankruptcy go for Chapter 7.
Funded by Robert Stiberman, Stiberman Law brings over 22 years of experience to the table. Whether you’re looking for a consultation or someone to file on your behalf, we have you covered.
Our agents are highly professional and friendly. You can ask for help in both English and Spanish and get all your questions answered.
Go through our affordable plans and contact our team to get a customized quote. You can even choose a $0 down option that’s suitable for people who cannot afford to make advance payments.
We’re quick and will start the process right away. Most of our clients get results in four months and we make sure there are no roadblocks.
Still got questions? Call (954) 922-2283 and get in touch with us. You can book a free consultation and use it to get answers to all your questions.
Get Immediate Legal Help
Schedule a free consultation by filling out the form below or Call us (954) 922-2283
Business Hours
Mon-Fri 8:00 am to 8:00 pm
Saturday 9:00 am to 6:00 pm
Speaking to our law firm is always 100% confidential.
We’re a Palm Springs North Chapter 7 Bankruptcy law firm serving Palm Springs North and the surrounding areas.
Let Us Help You!
Our Palm Springs North Chapter 7 Bankruptcy attorneys can help you get out of financial hardship, We offer free consultations and can answer all your questions regarding the issue.
Who Should File Chapter 7 Bankruptcy?
We do not suggest this option to everyone as there are certain eligibility requirements you must meet.
“Subject to the means test described above for individual debtors, relief is available under chapter 7 irrespective of the amount of the debtor's debts or whether the debtor is solvent or insolvent,” says the official page.
The means test is meant to gauge if you have enough disposable income to cover your debts. It takes into accounts factors such as your income, family size, and expenses. In most cases, you will qualify if your disposable income is below your state’s median.
Do not worry, we can calculate it on your behalf. Get in touch with us today to start the process.
Chapter 7 Bankruptcy Process
The process can be explained in five steps:
We’ll keep you in the loop so you are fully aware of the happenings.
Frequently Asked Questions
Yes, Chapter 7 can clear most personal loans.
You will be able to keep your jewelry up to a certain value.
No, both businesses and individuals can file for bankruptcy.
While applications do get rejected, it isn’t a common occurrence.
Get Immediate Legal Help
Schedule a free consultation by filling out the form below or Call us (954) 922-2283
Business Hours
Mon-Fri 8:00 am to 8:00 pm
Saturday 9:00 am to 6:00 pm
Speaking to our law firm is always 100% confidential.
Choose Stiberman Law
Stiberman Law is here to help you file. Call (954) 922-2283 to book your free consultation.
Speaking to our law firm is always 100% confidential. We do our best to respond to inquiries in under 24 hours.
We’ll get in touch as soon as possible.