Affordable Chapter 7 · Commerce
Affordable Chapter 7 Bankruptcy in Commerce and What It Buys You
Commerce rings up nearly $2 billion a year in taxable sales, from the Citadel Outlets to Atlantic Boulevard. For a family whose own card balances keep growing, one Chapter 7 fee can cost less than years of payments. Chapter 7 can wipe out credit cards, medical bills and personal loans for a flat fee from $1,200 plus the court fee. Call (310) 362-9071 for a free consultation.
- Wipes out most unsecured debt
- Flat fee from $1,200 plus $338 court fee
- Collection stops the day we file
- Payment plans available
What an affordable Chapter 7 wipes out
| Usually wiped out | Usually stays |
|---|---|
| Credit cards and store cards | Child support and alimony |
| Medical bills | Most recent income taxes |
| Personal and payday loans | Most student loans |
| Old judgments and repo balances | Criminal fines |
The math for a Commerce household
Here is an example with made-up round numbers. Say you owe $15,000 on credit cards at 24% interest. That is about $300 a month in interest before you pay down a single dollar. For a Commerce household at the city's median income, $300 is about 5% of a month's income before taxes, going to interest alone.
A simple Chapter 7 with us costs about $1,538 in attorney and court fees. In this example, that is about five months of interest payments, and the balance is gone at the end of the case.
Chapter 7 compared with settlement and consolidation
- Debt settlement can take years, charges fees, and forgiven debt may be reported to the IRS as income. Creditors can still sue while you save.
- A consolidation loan needs good credit and still has to be paid back in full, with interest.
- Chapter 7 stops collection the day it is filed and usually ends with a discharge in about four months.
Chapter 7 is not right for everyone. Read when you should not file bankruptcy before you decide.
Why Commerce filers choose Chapter 7
Compare one Chapter 7 fee with what card debt costs you every year. If a Commerce household pays $400 a month toward cards, that is $4,800 a year, often with little drop in the balance. Debt settlement may take years and can still end in a lawsuit at the Norwalk Courthouse. A consolidation loan can help only if you can repay the whole balance on time. For an attorney fee from $1,200 plus the $338 court fee, Chapter 7 can clear most of that debt in about four months.
More for Commerce filers
- Bankruptcy attorney for Commerce
- Chapter 7 attorney for Commerce
- Chapter 13 attorney for Commerce
- Cheap bankruptcy in Commerce
- Affordable bankruptcy in Commerce
- Cheap Chapter 7 bankruptcy in Commerce
- Affordable Chapter 7 bankruptcy in Commerce
See every fee in one place on our bankruptcy cost page.
Affordable Chapter 7 questions from Commerce
How does affordable Chapter 7 compare with a consolidation loan in Commerce?
Affordable Chapter 7 wipes out most card debt, while a consolidation loan in Commerce only replaces it with a new loan. If you cannot repay the full balance, Chapter 7 is usually the cheaper path over time.
Is Chapter 7 cheaper than a consolidation loan?
Chapter 7 is usually cheaper than a consolidation loan over time, because the loan must be repaid in full with interest. Chapter 7 costs a flat fee plus the court fee and wipes out most unsecured debt.
When do collection calls stop in Chapter 7?
Collection calls stop in Chapter 7 as soon as the case is filed, because of the automatic stay. The discharge itself usually comes about four months later.
Free consultation
See what Chapter 7 could wipe out for you
Call (310) 362-9071 or send the form. We will compare Chapter 7 with your other options for free.
Law Offices of John Asuncion9454 Wilshire Blvd., Penthouse Floor
Beverly Hills, CA 90212
(310) 362-9071
Monday to Friday, 9 a.m. to 6 p.m.