top of page

BANKRUPTCY

CHAPTER 7 BANKRUPTCY

Among the most popular options for clients seeking bankruptcy protection to eliminate debt, Chapter 7 sells off the debtor’s assets and distributes those funds to creditors in exchange for discharging the debt. In practice, Nunez Galicia Law, can help make sure that key assets such as your home or your retirement savings are insulated from the sell-off, allowing you to preserve a future even as you build a new financial beginning.

​

Nunez Galicia Law is dedicated to bringing you great service and most of all keep you informed. NUÑEZ GALICIA LAW will work closely with you to evaluate your situation, your assets and your goals to find bankruptcy protection options that meet your needs. For many clients, Chapter 7 bankruptcy is a natural fit, eliminating or reducing debt, collections and lawsuits while giving you options to protect your home, future and family.

​

NUÑEZ GALICIA LAW will also help you work to protect your:

  • Home and investment home

  • Automobile

  • Retirement — 401(k), IRAs, pensions

  • Social Security

  • Workers’ compensation benefits

  • Wages

  • Businesses (Corporations

bankruptcy lawyer in Huntington Park California

Experienced And Personalized Legal Support From Our Bankruptcy Attorney

Our team at NUÑEZ GALICIA LAW takes a hands-on approach to client service. From your free initial consultation through filing Chapter 7 bankruptcy, you work closely with our office and attorneys. While we understand that it can be a stressful process and difficult decision to seek bankruptcy protection, we have also seen the benefits to clients throughout Los Angeles who have chosen to exercise their legal rights.

Because of our experience, we understand what you are going through when deciding to visit our office. We take a personal approach to each and every client. NUÑEZ GALICIA LAW Attorneys meet personally with every client, talks to them one on one, and gets to understand their problems.

BRANKUPTCY FREQUENTLY ASKED QUESTIONS

​

  1. What does it mean to declare bankruptcy? Bankruptcy is a legal process that provides relief from debts you cannot repay. When you declare bankruptcy, it:

    • Stops debt collection as soon as the case is filed.

    • Wipes out eligible debts permanently.

    • Levels the playing field for debtors and creditors.

    • Allows debtors to pay creditors what they can afford without hardship or losing essential property.

  2. What are the types of personal bankruptcy? The most common types are:

    • Chapter 7: Often called “liquidation” bankruptcy, where assets are sold to pay creditors. Over 90% of Chapter 7 cases result in no payment to creditors.

    • Chapter 13: Debtors repay a portion of their debt over a specified period while keeping their assets.

  3. What are the requirements and consequences of filing bankruptcy?

    • Credit counseling: You must take a course before filing.

    • Listing creditors and debts: Provide a comprehensive list.

    • Tax returns: Submit returns before and after bankruptcy.

    • Consequences: Bankruptcy affects your credit score, stops creditor harassment, and discharges some debts.

    • ​

Remember, bankruptcy is a complex legal process, and seeking professional advice is crucial. If you’re considering bankruptcy, consult with an attorney at NUÑEZ GALICIA LAW.

bottom of page