Do I Qualify for Bankruptcy in Chico?

Are you presently contending with out of control and crushing debt? If so, you may want to consider all of your bankruptcy options, including your alternatives to bankruptcy. For many people bankruptcy can offer an effective and powerful solution to their financial troubles; however, the first question that most people has is, “Do I qualify for bankruptcy?”

If you are contemplating filing for bankruptcy, or if you are curious if you qualify for a Chapter 7 (debt liquidation) bankruptcy or a Chapter 13 (debt reorganization) bankruptcy, then it would be in your best interests to speak with our lead attorneys from The Law Office of Nikki Farris. We have been practicing bankruptcy law in Butte County for two generations so you can feel confident knowing that we can provide you with honest, reliable answers to your questions.

Do You Have Questions?

Let us help you determine your best course of action.

We've helped countless people throughout Butte County, California and we look forward to helping you.

Ask the attorney!

Learn of All Your Legal Options

Our journey will begin with reviewing your unique set of circumstances in detail. Although bankruptcy may be a viable solution for many, it’s not for everyone. Whether you wish to file for bankruptcy, or if you want to pursue another course such as a loan modification, we will let you know if we believe bankruptcy is right for you. We can also explain what bankruptcy can and cannot do, and together we can find the best solution that will suit your individual set of circumstances.

If bankruptcy is your most reasonable option, you will need to take the bankruptcy means test. This test compares your income with the median income for your state, for a household of your size. If you income falls below the median income of your state, then you automatically qualify for a Chapter 7 bankruptcy. On the other hand, if your income is too high, then you may qualify for a Chapter 13 bankruptcy instead.

Chapter 13 bankruptcy is mainly for those individuals who have a steady source of income who can afford to pay off their debts, or a portion thereof in monthly installments for the next 3 to 5 years. Each individual Chapter 13 is different, how much one has to pay towards their debts depends upon a number of factors including their financial ability to make monthly payments. At times people may ultimately pay off a fraction of their debts as opposed to the entire amount they owe. The purpose of a Chapter 13 bankruptcy is for people to get into a Chapter 13 repayment plan that they can comfortably afford.

Chico Debt Relief Lawyer: Trustworthy Legal Counsel

At The Law Office of Nikki Farris, we have been practicing bankruptcy law for several years and we are honored to serve the residence of Butte County in all of their bankruptcy needs. We encourage you to contact our firm as soon as possible to learn more about our bankruptcy services. We are here to answer any questions you may have about bankruptcy exemptions, collections defense, or how to put a stop to creditor harassment. We can also explain how discharging your debt works, as well as how bankruptcy can protect you from wage garnishment and repossessions. To find out if you qualify for bankruptcy, contact a Butte County bankruptcy attorney from the firm to schedule your initial consultation! To learn more about qualifying for bankruptcy, contact our Chico legal team from The Law Office of Nikki Farris.