Who Can Exit Bankruptcy?
A San Francisco bankruptcy attorney addresses common questions from clients.
When a debtor enters bankruptcy, his most immediate though may not be how to get out of it. He initially wants to stop harassing calls from bill collectors and find some relief from his financial burdens. Chapter 7 and Chapter 13 do not provide complete protection from all of a person’s debt, but they do give a person a chance to make a payment plan and have some debts written off.
What Does Exiting Bankruptcy Mean?
If a debtor pays off his debts or can reasonably expect to pay off the amount of money he owes in a reasonable amount of time, he can apply to exit bankruptcy. The request must be approved by a judge before it can proceed.
What Do I Need to Exit Bankruptcy?
The process of getting out of bankruptcy and ultimately out of debt requires a person to prove financial solvency. The debtor must bring the copies of his bills, canceled debts and other items proving that he is no longer insolvent before a judge. The judge and an accountant hired by the court review the case and make the final determination. If a judge okays the request, he is no longer considered to be bankrupt.
We can answer all your questions regarding filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment,asset protection, discharging a debt, etc. If you need help regarding a bankruptcy in San Francisco, call us at (415) 946-8882 or (1800) 941-6730 and we will be more than happy to offer you a free consultation over the phone. You can also fill out a free online evaluation at our website, www.sagarialaw.com, or request a free face to face appointment at a Sagaria Law office location close to you. We have bankruptcy attorneys located throughout California and Oregon to assist you with all your debt resolution needs.
