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Is Chapter 7 Right for You?

Exploring Your Debt Relief Options in Huntington Beach

While chapter 7 bankruptcy can be a great way for individuals and families in Orange County to clear away their debt and begin rebuilding their credit, it isn't the best option for everybody. Some people have too much income to qualify for chapter 7 and others would be risking their personal luxury items to liquidation.

If you are considering chapter 7 bankruptcy, you need to talk to an experienced bankruptcy lawyer at the Law Office of Desiree Causey in Huntington Beach, California. We are committed to providing people with the personal service they deserve as we help them seek solutions to their debt issues.

Is chapter 7 right for you? We can help you find out. Contact us today to arrange a consultation with a lawyer.

The Chapter 7 Bankruptcy Means Test

In order to be eligible for chapter 7 bankruptcy, you must first pass a means test. If you have too much income, you will have to look at other options for clearing your debt. The allowable amounts are:

  • $49,182 for individuals
  • $65,097 for married couples
  • $70,684 for families of three
  • $79,971 for families of four
  • $86,871 for families of five

In addition to your income level, having too many existing assets could disqualify you from chapter 7. For example, if you own multiple properties with equity, chapter 7 isn't right for you.

You've Fought the Good Fight, but Enough is Enough

If you have been fighting the loss of your home or desperately trying to scrape together the money for your credit card payments, your credit is probably already shot. You've fought against financial implosion valiantly, but it's time to start over and have a chance to rebuild your credit and put the stress of debt behind you.

To schedule a consultation with an attorney, call 714-372-2225 or send an e-mail today.