A lot of people look at Chapter 7 bankruptcy as if it were life's financial reset button, but if you have done your research, you know that Chapter 7 is a lot more complicated than that. Indeed, some types of debt are not even covered under Chapter 7, so it is important to take a close look at your personal financial situation before you decide whether or not you are a suitable candidate.
At the Law Offices of David Tilem, if you are suffering under a massive load of debt that you can't pay off, we understand exactly where you are coming from. Indeed, we have represented numerous Los Angeles residents in helping them get their debt problems under control. In some cases, the answer is most definitely Chapter 7 proceedings, and in other cases, it is not.
The first thing we do for a client is to determine if he or she is eligible for Chapter 7 liquidation. In order to make this call, our clients must pass what is referred to as a "means test," which looks at your personal debt and income situation to determine if a court will approve your bankruptcy application.
Everyone chooses to file for bankruptcy for different reasons. At the Law Offices of David Tilem, we pride ourselves on giving our clients the gift of a judgement-free zone, where they can describe to us what kinds of financial troubles they are suffering from. In this context, we give our clients sound legal counsel on what their options are, and how we recommend they should proceed.
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