Guiding You Through Chapter 7 Bankruptcy
Financial problems may drive individuals and families to seek relief by filing bankruptcy. Though not right for everyone, filing for bankruptcy protection may allow people to regain control of their finances and get back on track.
At his La Jolla, California, office, attorney Darvy Mack Cohan provides clients with comprehensive bankruptcy representation. Having practiced bankruptcy law for 30 years, Mr. Cohan is a knowledgeable advocate who prides himself on providing clients with options for seeking protection from creditors and collectors. He assesses a client’s situation to determine if filing for bankruptcy is the right solution.
Each client’s situation is different. Mr. Cohan understands that Chapter 7 bankruptcy may not work for everyone. He customizes his representation to suit each client and case.
Want to learn more about how attorney Cohan would handle your case? Call 858-459-4432 and schedule an appointment.
What Is Chapter 7?
Chapter 7 is a type of consumer or personal bankruptcy filing that is also sometimes called a “fresh start.” Chapter 7 allows debtors to have most or all of their unsecured debts discharged, allowing them to start over with their finances. You may have assets that are not protected under Chapter 7. Attorney Cohan can assess your situation and determine if you are eligible. To file Chapter 7, however, you must clear the means test.
The Means Test
The means test is based on your income and necessary expenditures in relation to the median income for your district. It is used to determine whether you earn enough income to allow you to pay a portion of your debts. If you earn over the limits for a Chapter 7 filing, you may instead file for Chapter 13 bankruptcy.
Because the means tests looks at your income and expenses and the test has numerous adjustments, you cannot determine whether you are eligible for Chapter 7 until you have had an experienced lawyer calculate your numbers. Attorney Cohan handles other financial matters affecting your ability to file for bankruptcy.
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Mr. Cohan is a knowledgeable bankruptcy attorney who has received an AV rating* from his peers under Martindale-Hubbell’s peer review rating service.