Paralegal Exempt Or Non Exempt
California Bankruptcy lawers
Once the bankruptcy petition is filed the Chapter 7 bankruptcy code provides a definition of which assets will be divided into exempt and non-exempt categories. Non-exempt assets are surrendered to the court but it’s common for people who file Chapter 7 bankruptcy to retain all their assets due to their exempt status. Bankruptcy filers with non-exempt assets which they wish to retain often consider Chapter 13 as an alternative due to its increased flexibility on which assets can be retained. Prior to filing a Chapter 7 petition, our attorneys will consult with you regarding all aspects of the filing including your assets, income, expenses, and liabilities.
Qualifying for a Chapter 7 bankruptcy is done through a “means test” which determines a debtor’s income and ability to make payments on outstanding debt. Generally speaking, if household income is below the median income for the state of residence, the debtor will qualify for a Chapter 7 bankruptcy filing. Our attorneys will able to tell you prior to taking the means test whether you will qualify for a Chapter bankruptcy or not. Equally important, we can give advice on whether a Chapter 7 or a Chapter 13 bankruptcy filing will be in your best interest.
While a Chapter 7 bankruptcy petition can be filed very quickly, the best results are derived from intensive planning prior to the filing. The problem with rushing a filing is that information can be left out of the petition which can become costly later. Planning far enough ahead to allow time for collecting financials, building a full list of creditors to list in the petition, and assembling other documents required by the court will always give you the greatest chance for optimal results from your bankruptcy.
With 11 locations across California to serve you, the Law Offices of Zhou & Chini make it easy to meet with an attorney to discuss your situation and the best remedy for it. Our main focus is bankruptcy, and we file Chapter 7 bankruptcies for individuals in every county in Southern California. We always offer a free and confidential consultation with one of our attorneys to see if filing Chapter 7 Bankruptcy is right for you or whether another option will deliver the best results. At Zhou & Chini, our interest is in getting you the best result possible as opposed to offering cookie cutter solutions. To that end, your bankruptcy will be handled by an attorney directly, not paralegals or other staff members. Our attorneys, after an assessment of your specific circumstances, will be happy to explain all your options, so you can make an informed decision and take the best path possible toward your debt solution. To schedule a free consultation, visit
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