Bankruptcy Law/chapter 7

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Expert: - 6/28/2011


Question
My home was recently foreclosed on then sold at auction, I have been unemployed for 2 1/2 years and have many unpaid bills.  I have no assets or income and am applying for Medicare and Welfare.  

I contacted Free Legal Aid about filing for Chapter 7 and they advised that I should wait to file Chapter 7 until I am employed so that then my wages cannot be garnished and that is when I should start my "clean slate" as one can file for bankruptcy every 8 years.

What is your advice?

Answer
I don't really understand the advice you were given.  The only reason to wait to file the Chapter 7 case would be if you were intending to incur new debts in the interim, but in that case those debts would likely not be dischargeable anyway.

If you have been unemployed for 2.5 years and otherwise qualify for Chapter 7, the time to file is NOW.   If you wait to file until you have a job, you may have too much income to qualify for Chapter 7.

Mark J. Markus, Attorney at Law
Handling exclusively bankruptcy law cases in California since 1991.
http://www.bklaw.com/  

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Mark J. Markus- California Bankruptcy Attorney

Expertise

Mark J. Markus is a Los Angeles bankruptcy attorney who has practiced exclusively bankruptcy law in California since 1991 and is rated A+ by the Better Business Bureau and is AV-rated by Martindale-Hubbell. He represents debtors, creditors, and Trustees in Chapter 7, Chapter 11, and Chapter 13 of the bankruptcy code throughout California.

Experience

Visit our California bankruptcy webpage at http://www.bklaw.com for more information on bankruptcy in general and Mark J. Markus in particular. Many questions are answered on the web page (hint, hint).
The Markus webpage also contains more information on

  • Which Chapter to File,
  • business bankruptcy,
  • chapter 7 bankruptcy,
  • chapter 11 bankruptcy,
  • chapter 13 bankruptcy,
  • Do You Need a Lawyer to File Bankruptcy?
  • Frequently Asked Bankruptcy Questions

    Also visit our Los Angeles bankruptcy blog for interesting articles and much more.



    Organizations
    Central District Consumer Bankruptcy Attorneys Association (CDCBAA) Los Angeles County Bar Association (LACBA) Commercial Law & Bankruptcy Section of the Los Angeles County Bar Association Financial Lawyers Conference (FLC) National Association of Consumer Bankruptcy Attorneys (NACBA) Los Angeles Bankruptcy Forum (LABF) American Bankruptcy Institute (ABI) San Fernando Valley Bar Association (SFVBA)

    Publications
    Central District Consumer Bankruptcy Attorneys Association Newsletter September 2007 (Vol. 1, Issue 2)

    Education/Credentials
    J.D., University of Arizona 1990. B.A. Economics, California State University, Northridge 1986. For more details please click here

    Awards and Honors
    AV Rated by Martindale-Hubbell (http://www.martindale.com) A+ Rated by Better Business Bureau

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