Chapter 7 Bankruptcy
  • $750 Million

    of Debt Discharged and Eliminated

  • 2,000+

    Bankruptcy Clients Represented

  • 99%

    Successful Debt Discharge Rate

Chapter 7 Bankruptcy Lawyers in Irvine

Your Path to a Fresh Start

With consumers suffering across the country from overwhelming debt, foreclosure, and rising taxes, many people are considering filing Chapter 7 bankruptcy. This form of bankruptcy has brought tremendous relief and peace for numerous families throughout the State of California.

At McFarlin LLP, we have represented many clients in Chapter 7 bankruptcy cases. We are prepared to represent you and help you secure a stronger financial future. We offer free consultations to prospective clients, and we would love the opportunity to help you understand your options during this time.


Contact our Irvine Chapter 7 bankruptcy attorneys today at (949) 570-5025 to schedule your complimentary case evaluation.


What Is “Liquidation Bankruptcy”?

Chapter 7, sometimes called "liquidation bankruptcy" or "straight bankruptcy," is generally the simplest and quickest form. Chapter 7 is available to individuals, married couples, and all forms of businesses, including corporations and partnerships. With this filing, you will turn over all nonexempt property to the trustee, who then converts it to cash for distribution to your creditors. In most cases, all of the filer’s assets are exempt, which means they can quickly achieve a clean slate without losing property through liquidation.

The primary purpose of liquidation is to discharge certain debts so you can have a "fresh start." You will have no personal liability for discharged debts after the filing and completion of your case.

The benefits of filing for Chapter 7 bankruptcy include:

  • Ending creditor harassment
  • Beginning to rebuild your credit
  • Ending garnishments
  • Eliminating repossession debts
  • Paying less than you would in a different chapter

Chapter 7 Bankruptcy Requirements

To qualify for Chapter 7 bankruptcy, you must meet certain income requirements, which the Bankruptcy Court evaluates through their bankruptcy schedules. Essentially, your necessary living expenses must use most of your income so that no money is leftover at the end of the month.

Essential living expenses are any expenses necessary for a person or family to maintain a normal life. They can include (but are not limited to):

  • Rent or mortgage payments
  • Food
  • Gasoline
  • Utilities
  • Child care
  • Medical care
  • Insurance
  • Clothing

In most instances, individuals struggling financially have little disposable income and, therefore, have no difficulty qualifying for Chapter 7 bankruptcy.

What Do I Need to Provide to File Chapter 7?

In order to complete and file for financial insolvency, you must provide the following information:

  • A list and some background detail on all creditors (amount owed, date incurred, etc.)
  • A detailed list of your monthly living expenses (e.g. food, clothing, shelter, utilities, taxes, transportation, medicine, etc.)
  • Information and details regarding the filing and your income
  • A list of all your property
  • Driver’s license
  • Social Security card
  • A copy of your taxes from the year prior to filing
  • A valid certificate of credit counseling

Married individuals must provide some of this important information for their spouse, regardless of whether they are filing together, they are filing separately, or only one spouse is filing. In a situation where only one spouse files, the income and expenses of the non-filing spouse is required so that the court, the trustee, and creditors can evaluate the entire household's financial circumstances.

The Chapter 7 Bankruptcy Process

Once our bankruptcy lawyers have filed your Chapter 7 bankruptcy case, an "automatic stay" is automatically ordered by the court, which stops all creditor collection actions against you. Approximately 30 days after the Chapter 7 bankruptcy petition is filed, a meeting called the "meeting of creditors" will be conducted by the bankruptcy trustee. Although it is called a "meeting of creditors," it is extremely uncommon for creditors to attend this meeting. You are required to attend this meeting and provide honest answers to the bankruptcy trustee's questions.

Once the bankruptcy trustee is satisfied that the information you provided is accurate, you will become eligible to have your debts discharged. Most Chapter 7 bankruptcy cases take about six months from the initial bankruptcy filing to be discharged.

Chapter 7 Bankruptcy & Your Home

Generally, Chapter 7 bankruptcy does not affect your mortgage or house. Unless there is a large amount of equity (at least $100,000 in California), the bankruptcy trustee will generally not be interested in the house, so long as the debtor lives in the house. Because most consumers have less than $100,000 in equity in their home, this doesn't come up very often.

Let Us Help You Protect Your Property

McFarlin LLP has a great deal of experience with bankruptcy. We have represented thousands of clients and can provide effective legal counsel at a reasonable price. We offer prospective clients a free consultation to discuss the filing process and answer any questions you may have.

Call (949) 570-5025 or contact us online today to discuss your case with our qualified Irvine Chapter 7 bankruptcy attorneys.

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