Dedicated to Helping Orange County Individuals and Couples
Michael D. Franco, a Chapter 7 bankruptcy attorney, is committed to providing relief to Orange County residents struggling with insurmountable debt. When you find yourself in a position where you have to choose between paying rent and buying groceries or paying off your debts, filing for Chapter 7 bankruptcy may be the best solution for you.
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Assisting Orange County Residents with Bankruptcy since 1995
With 28 years of experience Santa Ana bankruptcy attorney Franco helps residents of Orange County and adjoining counties file for Chapter 7 bankruptcy. Moreover, having handled over 6,000 bankruptcy cases, Michael has made bankruptcy his sole legal focus. He will help you assess whether bankruptcy is a viable option for your situation. If it isn’t, he will suggest alternative solutions to overcome your financial predicament. To schedule a free initial phone or office consultation, call chapter 7 bankruptcy attorney Michael D. Franco at (714) 252-6286. When possible, Michael will speak with you immediately, otherwise you can expect a prompt return call.
Envision a New Beginning
Can you fathom a reality where you are not obligated to repay those medical bills and credit card debts? If so, you will potentially have sufficient finances to secure a nice place to reside, meals to sustain your family, and commence your financial recovery! This is PRECISELY why the U.S. Congress established bankruptcy laws – to provide individuals with a second opportunity. These laws enable people to start afresh BEFORE they plunge into dire straits, wherein they might require public assistance. Even worse is to be evicted or foreclosed, ending up homeless, and no longer productive for themselves or society.
Orange County bankruptcy attorney Franco will review your situation to see if you qualify for a Chapter 7 bankruptcy. If you do, filing a Chapter 7 will allow you to discharge most or all your debts. It is also very likely you can keep your home and car.
Chapter 7 bankruptcy is a potent tool! In fact, upon qualifying, a Chapter 7 discharge typically eliminates all or most of your debt, enabling you to begin anew. additionally, U.S. and state legislators believe that offering the bankruptcy option is essential before one reaches complete destitution. Lawmakers believe it is better to stop the downward spiral and reassess your situation before becoming a burden on society.
Prominent and sizable corporations file for bankruptcy before their situation worsens, and perhaps it is time for you to explore the potential of bankruptcy for your circumstances. Moreover, irrespective of the number of assets you own or the minimal amount your creditors will eventually receive, Chapter 7 frequently allows you to abandon your unsecured debts.
Keep Most of Your Property
Chapter 7 bankruptcy provides you with many benefits if you qualify.
If you meet the eligibility requirements, Chapter 7 bankruptcy offers numerous advantages. Additionally, apart from discharging most or all of your debts, it permits Orange County residents to retain much of their assets. Several clients in Orange County retain possession of their houses, vehicles, and personal belongings, while clearing all their unmanageable unsecured debts.
Power of the Automatic Stay
Upon filing your bankruptcy case, Orange County Chapter 7 attorney Michael D. Franco will initiate an “automatic stay,” as ordered by the court. This prohibits all creditors from harassing you or undertaking any collection activities. The automatic stay will:
- Cease bill collectors from contacting you.
- Halt any ongoing foreclosure proceedings.
- Put an end to any creditors’ lawsuits.
- Stop wage garnishment.
- Prevent auto lenders or car dealers from repossessing your vehicle.
- Suspend tax collection efforts by the IRS or the State of California FTB.
Chapter 7 Bankruptcy Does Have Some Eligibility Requirements
To determine eligibility for Chapter 7 bankruptcy in Orange County, one must carefully examine the detailed requirements. Typically, if your household income is lower than the California median income for your household size, you should be eligible to file. Interestingly, in numerous instances, you may still qualify for Chapter 7 bankruptcy, even if your income exceeds the California median income for your household size.
Apart from meeting the eligibility requirements, it is crucial to consult with an experienced Orange County Chapter 7 bankruptcy lawyer. This way, you can (1) confirm that any assets you plan to retain will be safeguarded or “exempt” from creditor claims, and (2) ascertain that filing for Chapter 7 is the most fitting option for your unique circumstances.