Chapter 7 Bankruptcy Gives You a Fresh Start

Knowledgeable and experienced Chapter 7 bankruptcy lawyers representing San Fernando Valley, Sherman Oaks, Van Nuys, and Los Angeles explain your options

The Law Offices of Juanita V. Miller in Sherman Oaks has nearly 25 years of experience representing personal and small business debtors in Chapter 7 proceedings. We go over your complete financial situation with you so that you can decide which options are appropriate for your personal and financial needs.

How to qualify for Chapter 7 bankruptcy

Chapter 7 is used by individuals who cannot pay their bills and who want to eliminate their debts and get a fresh start in life. Companies are able to liquidate their assets and terminate their businesses. Individuals must satisfy a means test to determine whether they should file under Chapter 13, requiring the repayment of debts over time, or Chapter 7.

In a personal Chapter 7 bankruptcy, certain debts are discharged to give you a fresh start. You have no liability for the discharged debts. Some types of debts, such as a lien on property, cannot be discharged, but you are allowed to keep property that falls under certain exemptions. An experienced bankruptcy lawyer has the knowledge to help you retain the maximum amount of your property under the exemption provisions. In most cases, individuals can keep their cars, and often their homes, as well.

In a small business Chapter 7 bankruptcy, debts are not discharged. Instead, the insolvent business is liquidated by a bankruptcy trustee, and the debts are paid with the business assets.

How the Chapter 7 bankruptcy process works

The process involves completing and filing a number of forms and providing additional information to the bankruptcy court, including:

• Petition in bankruptcy


• Schedules of assets and liabilities


• Schedule of current income and expenditures

• Statement of financial affairs


• Schedule of executory contracts and unexpired leases

Individuals must also complete a credit counseling program.

It is usually not necessary to go to court. A bankruptcy trustee takes possession of your non-exempt assets and uses those assets to pay your secured creditors first. If there are assets remaining, they are used to pay your unsecured creditors.

Contact an experienced Chapter 7 bankruptcy attorney in San Fernando Valley

Doing a bankruptcy alone is like doing brain surgery on yourself. The Law Offices of Juanita V. Miller can help you with debt relief. Call us at (818)907-7467 or contact us online for a free initial consultation. We speak Spanish.