On behalf of Law Offices of Kathleen G. Alvarado posted in chapter 7 bankruptcy on Friday, August 10, 2018.
A previous post on this blog talked about how Riverside residents and other Californians can use Chapter 7 bankruptcy, and particularly state and federal bankruptcy exemptions, to get relief from their debt and keep some or even all of their most important property.
Just because these exemptions are available to help California residents get a fresh financial start after falling in to monetary problems, however, does not mean that they are easy for residents to avail themselves of. In fact, many Californians might not even be sure of exactly what exemptions they are eligible to take or how to claim them.
This is one of the many reasons why people in the Riverside area seek out the assistance of our law office when they realize that a simple bankruptcy might be their best option for getting debt relief. Once we are able to confirm with our clients that bankruptcy really is the best option for them, we assist them with filling out the necessary paperwork to get the process started.
In the process of our doing so, we will go over our clients’ financial situation, including the property that they owe, and help them claim each and every exemption to which they are entitled under the law.
The end result is that our clients get to keep more of their assets even as they get their debts legally discharged, meaning they can walk away with a good nest egg of property without having to worry about lingering debt.
Bankruptcy has gotten more common and more socially acceptable over the years, but people should not be lured in to thinking that the process is easy or routine. Filing for Chapter 7 bankruptcy is an important step that calls for the attentiveness of our experienced and knowledgeable attorneys.