A chapter 7 bankruptcy allows you to liquidate non-exempt assets in order to pay off unsecured debts, and the remainder of these debts may be wiped clean. You do not have to agree to a repayment plan for these debts, and you may still be able to keep many of your valuable assets.
However, the paperwork for a chapter 7 bankruptcy must be completed properly, or you could end up with your assets being listed as non-exempt and therefore liquidated to offset your debts. A seasoned bankruptcy attorney can inform you how to list your assets so many of them are exempt from liquidation, and can assist you in filling out the required paperwork correctly.
At the Kalra Law Firm, we have the experience you need to clear your debt and start over with a clean financial slate. We will support you throughout the entire bankruptcy process, from beginning to end. We will inform your creditors of your plans to file bankruptcy and ensure that the endless collection calls, letters and threats stop.
If you want to be free of debt without having to lose some of your most prized possessions and valuable assets, it is crucial that you speak with a skilled bankruptcy attorney as soon as possible, before the creditors can threaten you with wage garnishment or foreclosure.
Call the Kalra Law Firm today to schedule an appointment to discuss how bankruptcy can help you start over financially and live the debt free life you’ve always wanted. (310) 325-9012.