Legal Objective Partner, Moderator at Orange County Bar MCLE Event

Bankruptcy Attorneys, Legal Objective

Finally, the # 7 Reason to File a Chapter 7 is to Relieve Stress

#6: Credit, 7 Reasons to File a Chapter 7 Bankruptcy.

7 Reasons to File a Chapter 7? #5- Privacy

View the nation’s worst hit areas in the foreclosure map

#4 in 7 Reasons to File a Chapter 7? Repayment

7 Reasons to File a Chapter 7? # 3- Cost

7 Reasons to File a Chapter 7? #2- Property

Reason #2- Property

The majority of Chapter 7 participants do not lose any property

Federal and/or State exemption laws allow a debtor to protect fairly generous amounts of property

If the bankruptcy trustee concludes your case as being “no asset”, you may not be required to forfeit any property

7 Reasons To File A Chapter 7? #1-Time

Chapter 7 – TIME

A typical Chapter 7 bankruptcy takes about 100 days from beginning to end

Once the case is filed, a brief creditor’s meeting is held about 30 days into the process

Unless a creditor objects, the case can possibly end about 3.5 months later with little excitement