Start A New Chapter In Your Life By Filing For Chapter 7 Bankruptcy


There are times in many people’s lives when debt seems to be completely overwhelming. Some are able to get past these difficult times while others are not. For those that find themselves in the latter category there is no other solution than creating more debt or going for the best course of action which is filing for Bankruptcy Chapter 7. Financial burdens suddenly disappear and those filing for Chapter 7 Bankruptcy are given a new slate, a chance to start everything again. Chapter 7 Bankruptcy is not easy to digest. Although people escape having to pay their debts, they lose everything that is of any financial value.

Most people are able to look past what Bankruptcy Chapter 7 entails, in terms of negative aspects and see it as a great possibility for starting a new life. In the long run Bankruptcy Chapter 7 can only be seen as a last resort in situations that seem to offer no escape. In a Chapter 7 bankruptcy, certain non-exempt assets are sold by the court and the proceeds paid to creditors. Most debtors are able to protect their assets by using certain exemptions allowed under their State’s laws. So the end result is that most Chapter 7 bankruptcy do not result in assets being sold by the trustee and the debtors are able to keep most of their assets.
This means no more calls or letters from collection agencies, banks or other creditors. For the wide majority of people that have filed for Bankruptcy Chapter 7 this means putting an end to years of pressure and tension caused by debts. (Most people are able to rebuild their credit within 2 years of filing bankruptcy by applying and getting small department store credit cards. A person is actually a good credit risk after a bankruptcy because he/she has zero debt and probably has a job and can’t file another bankruptcy for another 8 years. Therefore, many credit card companies see them as a very good credit candidate to extend credit to.)
There is another downside to Bankruptcy Chapter 7 and this time, it is not something that many people are able to dismiss immediately. We are talking of course of the matter of public records. Once a person has filed for Chapter 7 Bankruptcy he or she has no hopes of keeping this matter private. Bankruptcy files go on public record and can easily be accessed by anyone. However, these are all facts that can be overlooked when looking at the big picture, and what a picture it is indeed. A fresh new start.

Expungement Overview:

An expungement is a process whereby a criminal conviction or a plea of guilty or no-contest is set aside and the case dismissed. An expungement relieves a person of the penalties and disabilities that result from a criminal conviction. We can also reduce certain felony convictions to a misdemeanor and reduce the effects of a criminal conviction.

You are eligible to have your case expunged IF: You were granted probation and have fulfilled all of the conditions of your sentence and the period of probation has expired. If your probation has not expired, you will have to apply for early termination of your probation. You are also eligible if you were not granted
probation and one year has passed since you were sentenced. Additionally, you are not currently charged with a new offense, and you are not on probation or serving a sentence on any case.

Expungement allows you to answer certain questions concerning arrest and convictions by stating that the case was dismissed, EXCEPT, direct questions contained in any questionnaire or application for public office, or when obtaining a license from any state or local agency, or when contracting with the California State Lottery. An expungement does not seal your record nor is it removed from your Criminal History Information. If, at a later time, you are charged with a prior able offense (one that has a more severe penalty for a second or a subsequent conviction), this conviction can still be alleged as a prior conviction.