Prerequisites To Check Before Filing Chapter 7 Bankruptcy
Are you facing financial hardship and are considering filing bankruptcy in California, specifically Chapter 7 bankruptcy ? Whenever people find themselves in this situation, they search for answers to the following questions: Do they qualify for Chapter 7 bankruptcy? How fast can they get relief from their debt burden? How much does it cost to get out of their debt burden? Chapter 7 is the most popular way to overcome a financial crunch, especially in the California region. Surprisingly, among the 45,831 bankruptcies filed in California, the majority were chapter 7. We will discuss eligibility, qualifying criteria, and other variables regarding chapter 7 bankruptcy in this post. What is Chapter 7 Bankruptcy Eligibility? Chapter 7 provides discharge from all unsecured debts such as credit card debts. You can start afresh after getting relief. Typically, qualifying after bankruptcy takes 3-4 years. When it comes to filing a chapter 7 bankruptcy, essentially, you need to know where you st...