San Diego Chapter 7 Bankruptcy Lawyer
Skilled Escondido Consumer Bankruptcy Attorney
If you are like most people who have given serious consideration into filing for bankruptcy, you probably have not felt in control of your finances for a long time, if ever. Chapter 7 bankruptcy can give you that sense through providing you with debt relief.
At the Law Offices of Mark Ankcorn, we can help you get there. We are a people-centered practice. San Diego Chapter 7 bankruptcy lawyer Mark Ankcorn offers years of experience to guide you through the bankruptcy process. Mr. Ankcorn offers customized solutions, taking into account your personal needs and individual goals. Contact our San Diego law firm today to schedule a free initial consultation.
Offering Solutions Through Chapter 7 Bankruptcy
Known as asset liquidation or debt reorganization, Chapter 7 bankruptcy is the most common type of consumer bankruptcy for individuals and small businesses. Chapter 7 bankruptcy is designed for individuals and families with a significant amount of unsecured debt. After filing, debts are discharged and debtors are free from creditor harassment.
In San Diego, about 85 percent of non-business bankruptcy filings are under Chapter 7. In this type of consumer bankruptcy, it may be possible to discharge all of your unsecured debt while keeping most, if not all, of your personal property.
Addressing Misconceptions of Chapter 7 Bankruptcy
- Myth: all debts are discharged — The reality is not all unsecured debts can be discharged in a Chapter 7 bankruptcy. Debts from student loans, child support and certain taxes are not discharged.
- Myth: filing for debt relief is a complicated process — Actually, the Chapter 7 process is fairly straightforward and may take as little as four months to complete. Hiring an experienced attorney can help you save more money, while maximizing your bankruptcy decisions.
- Myth: New bankruptcy laws dramatically reduce qualification rates — In fact, most people who would have qualified for Chapter 7 debt relief under the old laws still will under the new ones. The new laws have, though, made it much more complicated to actually file a Chapter 7 petition correctly.
- Mtyh: Bankruptcy is not designed for people with property to keep —If you have a significant nonexempt property that you want to maintain, a Chapter 13 bankruptcy might be a better option. In our experience, however, most people do not have the kinds of personal possessions that a bankruptcy trustee would be interested in selling to pay off creditors. In other words, most people who file under Chapter 7 get to keep their personal possessions.
- Myth: You can only file bankruptcy individually — Actually, you can file a Chapter 7 case jointly, with your spouse, or as an individual even if you are married.
Contact Us for a Free Initial Consultation
Contact our San Diego law office online or call us at 619-870-0600 or 855-755-BANK to schedule a free initial consultation. For more background information, reference our firm's bankruptcy information center.
We have been designated by Congress as a debt relief agency, devoted to protecting the rights of American consumers.
