Chapter 7 Bankruptcy

Personal Bankruptcy

If you’re faced with mounting bills that you are unable to pay and are feeling financially overwhelmed, contact the Hemet Law Firm of Bloom & Rudibaugh. Our experienced bankruptcy attorneys have been representing bankruptcy clients for over 34 years and understand how significant the emotional burden brought about by financial strain can be. The Bankruptcy Process is extremely complicated. It is vital to have someone representing you who understands its complexity and can help you navigate the process with as little stress as possible.

Whether you’re receiving calls from debt collectors at all hours, are facing litigation related to your debts, or have judgments against you, we can help protect you! As soon as you file for Personal Bankruptcy Protection, all creditors must immediately cease all contact with you, as well as any attempts to continue trying to collect on the debt. Bankruptcy also stops all legal action relating to the enforcement of debts, including wage garnishments, bank levies, and pending lawsuits.

Chapter 7 Bankruptcy, or “liquidation bankruptcy,” is generally used when individuals own very few assets and their income falls below the median level in their state of residence. Chapter 7 Bankruptcy allows individuals to get out from underneath the burden of crushing debt, including credit card bills, medical bills, and unsecured personal loans. Additionally, you will likely be allowed to retain most of your property as long as its value falls below the amount allowed under the law.

Our attorneys will meet with you to determine what your best course of action is, and will determine whether Chapter 7 Bankruptcy is suitable given your financial situation. Hemet Bankruptcy Attorneys at Bloom & Rudibaugh will meet with you to obtain a clear overall understanding of your financial circumstances. By analyzing your debt to income ratio, we will be able to advise you as to whether or not we believe, based on our experience, that you are a good candidate for filing Chapter 7 Bankruptcy Relief.

If you do not qualify for Chapter 7 Bankruptcy, you may still be able to file for Chapter 13 Bankruptcy

In order to file for Chapter 7 Bankruptcy, several forms outlining your income, expenses and assets must be filled out and filed with the Bankruptcy Court. Upon receipt of the Bankruptcy Petition, the court will next appoint a Bankruptcy Trustee who will oversee your case.

Approximately one month after filing bankruptcy, a First Meeting of Creditors hearing will be held. At this time the trustee will review the Bankruptcy Filing with the debtor, and ask a series of questions regarding information contained in the Chapter 7 Bankruptcy Petition. Although creditors may participate in this hearing, in our experience they rarely choose to attend. If you own any non-exempt property or assets (those belongings not protected under Bankruptcy Laws), the trustee will ask that it be turned over at this time.

If your creditors fail to issue a challenge to your Bankruptcy Petition, the Bankruptcy Court will issue an order discharging all of your qualifying debts, freeing you from the obligation to pay.

If you are currently undergoing extreme financial stress and are looking for a way to get your life back, contact the Hemet Law Firm of Bloom & Rudibaugh. Our experienced Bankruptcy Lawyers can help you regain your peace of mind and help you obtain a fresh financial start!

We have offices conveniently located in both Hemet and Murrieta to better serve the needs of our clients.

Whether you need Bankruptcy & Debt Relief assistance, representation in a Divorce or Family Law matter, or want to devise an Estate Plan to protect both your interests and those of your loved ones, the Law Firm of Bloom & Rudibaugh offers quality, caring legal representation to clients throughout Riverside County. Please fill out our Case Evaluation Form and a representative from our law firm will contact you as soon as we have reviewed the information provided.

For immediate assistance, please call our experienced and knowledgeable lawyers today at (951) 652-1400 to schedule your free initial consultation!