• Spectacular!

    I liked your fast, friendly service. You were all knowledgeable in the area of bankruptcy. Your treatment of me as a client was spectacular! You were great at promptly responding to my questions and concerns. I loved that you provided courteous and quick responses to all my questions.
  • Highly Recommended!

    I have worked with Seth and he is the utmost professional in how he works with his clients. If you need an attorney you can trust I would highly recommend the Law Office of Seth Hanson.
  • Very Professional.

    Everyone was very professional and efficient. Seth, and everyone that I had contact with were very knowledgeable. I was very pleased with how we were treated by his staff. My questions were always answered promptly. I was very pleased with the service I received and would not hesitate to refer someone to your firm.
  • Non-judgmental.

    You were very open and answered all of my questions. You never made me feel like I was asking a dumb question. I was comfortable with your knowledge of the law. It was hard for me to make this decision to move forward in my life. Everyone was friendly to me and respectful. Non-judgmental. Every question I asked was answered promptly and appropriately. I would recommend you.
  • More Than Expected!

    I found the firm's representation to be more than what I expected. I was always kept in the loop, all my questions were answered (whether or not I asked more than once the same question), and I felt completely supported by the firm staff when going through this (at times) scary ordeal. Thank you again.
  • Very Impressed!

    I liked that you had very friendly, caring staff. You were all very knowledgeable. Your treatment towards me was excellent and you quickly responded to all my concerns. If a friend asked of your overall impression, I would say that we were very impressed and we would recommend you to them.

Understanding Chapter 7 Bankruptcy

understanding Chapter 7 bankruptcyBelonging to the Title 11 of the US Bankruptcy Code, chapter 7 is involved in the process of liquidation in the event of a bankruptcy. Chapter 7 is one of the most popular forms of bankruptcy in the United States.  The chapter 7 bankruptcy allows the debtor to effectively discharge all their debt and start afresh with a clean slate. The first place to start is gather information for better understanding Chapter 7 bankruptcy.

Understanding Chapter 7 Bankruptcy

  • Once you have filed for the chapter 7, the US bankruptcy court will issue an ‘automatic stay’ order. This is to stop a majority of your creditors from further pursuing their collection actions against you. In other words, it legally prohibits the creditors to forcefully dig out their dues from your funds or assets. This helps you buy time for reorganizing your finances and managing your debt more effectively.
  • Technically, when you file for chapter 7, you are providing the bankruptcy court with complete control over your property as well as debts. This implies that you cannot give away or sell your assets once you have filed for the chapter 7. The control of your assets and debts is exercised by a court-appointed ‘Bankruptcy trustee’. He/she will primarily be involved with paying off a major chunk of your unpaid debt to your creditors.
  • Within a week or two after you have filed the petition, you will be called into the courthouse for a ‘creditors meeting’. This is chaired by the bankruptcy trustee. You will be asked  questions regarding the filing of your bankruptcy. You will be asked about documents that you might have submitted for the purpose. The trustee will also determine the total amount of debt that you owe to your creditors.

Given the fact that chapter 7 is pretty cost-efficient in terms of filing and administrative costs, it is one of the most effective alternatives that you can opt for in case of a Sacramento bankruptcy.

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