Affordable Chapter 7 · Manhattan Beach
Affordable Chapter 7 Bankruptcy in Manhattan Beach and What It Buys You
Manhattan Beach households earn a median of $204,306, about $17,000 a month. Large card balances can still build up fast at that level. 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 Manhattan Beach 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 Manhattan Beach household at the city's median income, $300 is about 2% 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 companies collect fees while you save up lump sums, and creditors are free to sue in the meantime. Forgiven balances may also count as income for taxes. A consolidation loan only moves the debt to a new lender, and it takes good credit to get one. Chapter 7 is different: collection stops on the day of filing, and most cases end in about four months.
Chapter 7 is not right for everyone. Read when you should not file bankruptcy before you decide.
Why Manhattan Beach filers choose Chapter 7
Settling large debts can create a tax bill on the forgiven amount and leave accounts in collection for months. A consolidation loan keeps the full balance and adds years of interest. Chapter 7, when you qualify, wipes out unsecured debt for a starting price of about $1,538 in attorney and court fees, less than half a month of the $3,449 median rent. Freelancers between projects at the 22-acre MBS Media Campus may find that a gap in income lets them qualify. For owners whose debts come from a closed business, the fee can be small next to what is wiped out.
More for Manhattan Beach filers
- Bankruptcy attorney for Manhattan Beach
- Chapter 7 attorney for Manhattan Beach
- Chapter 13 attorney for Manhattan Beach
- Cheap bankruptcy in Manhattan Beach
- Affordable bankruptcy in Manhattan Beach
- Cheap Chapter 7 bankruptcy in Manhattan Beach
- Affordable Chapter 7 bankruptcy in Manhattan Beach
See every fee in one place on our bankruptcy cost page.
Affordable Chapter 7 questions from Manhattan Beach
Is Chapter 7 worth it for a Manhattan Beach family with large credit card debt?
Chapter 7 can be worth it for a Manhattan Beach family with large credit card debt if the family qualifies and has no equity at risk. The starting cost of about $1,538 is small next to big balances. If the family owns a home, Chapter 13 may give more value.
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.
How long until Manhattan Beach filers are debt free in Chapter 7?
Manhattan Beach filers are usually free of their dischargeable debts about four months after filing Chapter 7. Calls, lawsuits and garnishments stop the day the case is filed.
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.