WHAT CHAPTER IS RIGHT FOR ME?

Learn if Chapter 7 or Chapter 13 Bankruptcy is right for You

Getting into debt can have many undesirable consequences in life. Not only will your creditors be calling and sending letters demanding payment, you will also be facing repossession, foreclosure, law suits, bank levies and wage garnishment. Filing for bankruptcy could be the best way to eliminate your debts if:

• You are using your retirement or savings to pay your bills
• You are living paycheck to paycheck
• You are using credit cards for basic necessities
• You are borrowing money from friends and family to cover expenses
• You are behind on your bills
• You have received a notice of default on your home mortgage
• Your car is being repossessed
• You are using pay day advance loans
• You are taking cash advances from credit cards
• Your wages are being garnished
• Creditors have filed lawsuits against you
• You are using credit cards to make other credit card payments.

If you are considering bankruptcy, you will need to determine what chapter is right for you by taking the very complex Means Test. Most people will file under Chapter 7 or Chapter 13. Chapter 7 is the discharge bankruptcy that eliminates debt entirely. Chapter 13 bankruptcy involves the restructuring of debt into an affordable payment plan.

Ventura bankruptcy lawyer Michael Grennier can review your financial situation and give you the information you need to make an informed educated decision regarding your finances, and he will advise you if bankruptcy is the best solution to remedy your money troubles.

Chapter 7 vs. Chapter 13

If you intend to file for bankruptcy, attorney Michael Grennier can review your finances to determine if you qualify for Chapter 7 or Chapter 13. The purpose of a Means Test is to find out if you have any disposable income that can be used to pay back creditors. If you have money available after your basic bills and expenses have been paid, you qualify for Chapter 13. Persons without sufficient disposable income will file under Chapter 7.

Grennier Law provides creative debt solutions at affordable fees, including flat fee and monthly payment options. We can guide you through the bankruptcy process, and help you explore alternatives to bankruptcy as well.

Contact Ventura bankruptcy attorney, Michael Grennier for proven representation when seeking bankruptcy protection from creditors. Call today to schedule a FREE consultation at 805-643-3900.