Los Angeles Bankruptcy Attorneys & Lawyers

Chapter 7 Bankruptcy

Chapter 7 The most common form of bankruptcy. This form of bankruptcy is a liquidation proceeding in which the debtor's non-exempt assets, if any, are sold by the Chapter 7 trustee and the proceeds distributed to creditors according to the priorities among creditors established in the Code.

This is available to individuals, married couples, corporations and partnerships.

If there are assets which are not exempt, the trustee takes control of those assets, sells them and pays creditors as much as the proceeds permit.

Any wages the debtor earns after the case is begun are the debtor's, beyond the reach of creditors who had claims on the date of filing.

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We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.