Riverside Chapter 7 Bankruptcy Attorney

Eliminate Debt and Start Anew

The new bankruptcy law has implemented several changes to the process of filing bankruptcy. Among these changes is mandatory credit counseling and the means test. Individuals undergo the means test to determine eligibility for filing Chapter 7 Bankruptcy. Despite what many individuals may believe, Chapter 7 Bankruptcy is still a viable option for many who are struggling financially. At Winfield Payne & Associates, we help individuals and businesses file Chapter 7 Bankruptcy.

Do you need to speak with an attorney regarding your options in Chapter 7 Bankruptcy? Please contact attorney Winfield Payne today to arrange a free consultation. Since 1979, Mr. Payne has provided hands-on legal representation by personally preparing and filing all bankruptcy documents.

Chapter 7 Bankruptcy for Consumers

Chapter 7 Bankruptcy is liquidation bankruptcy. To qualify for personal bankruptcy, a person will need to be eligible under the means test. The means test compares the individual's current monthly income and the median income of the state they live in. The bankruptcy trustee will gather, distribute, and liquidate nonexempt assets to pay off debt. Winfield Payne & Associates provides experienced representation to individuals in asset liquidation, protecting the rights of each client seeking debt relief.

Chapter 13 Bankruptcy is an option for those who do not qualify for Chapter 7 Bankruptcy.

Chapter 7 Bankruptcy for Businesses

Corporations, partnerships and individuals whose debt is primarily business debt are not required to undergo the means test. Bankruptcy will discharge all dischargeable debt, but business owners will still retain the security interest in the property.

Whether you are struggling with debt from credit cards or have been unsuccessful in a business endeavor, bankruptcy may be an option. Please contact Winfield Payne & Associates to discuss your options.