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
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
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
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.