Chapter 7 bankruptcy is also known as total bankruptcy or liquidation bankruptcy. Since Congress added the 2005 amendments, there are a few hurdles a debtor must qualify to file a Chapter 7 bankruptcy.  A debtor must pass the “means test” based on their average monthly income six months prior to filing. A debtor must also take two approved credit counseling classes in order to receive a pre-filing bankruptcy certificate and a post-filing bankruptcy certificate. Although filing a Chapter 7 bankruptcy will generally wipe out all of your unsecured debt, Debtors may use exemptions to protect their assets from being liquidated by the Bankruptcy Trustee. It is important to find a competent, experienced attorney who is familiar with the allowed state and federal exemptions so he/she can best protect your assets.

Corporations and Limited liability companies may also choose to file a Chapter 7 bankruptcy when they are ready to shut the doors and liquidate the business. Although, corporations cannot get a discharge, filing a bankruptcy will put an end to expensive litigation. 

We understand that deciding to file for bankruptcy can be a very difficult decision.  You should not have to face it alone.  At the Lensky Law Firm, we will provide you with a free initial consultation with one of our caring and knowledgeable attorneys. During your consultation we will discuss your options and help you work out a solid course of action. Call the Lensky Law Firm in Los Angeles, California at 310-277-1717 for help today.  

Chapter 7 Bankruptcy


Lensky Law Firm
1100 Glendon Ave.
15th Floor
Los Angeles, CA 90024
 ☎️ (310) 277-1717

The Lensky Law Firm is proud to provide legal services to the following areas:   Alhambra, Bel Air, Bell, Bell Gardens, Beverly Hills, Brentwood, Burbank, Canoga Park, Carson, Century City, Cerritos, Compton, Covina, Crenshaw, Culver City, Downey, Downtown, Eagle Rock, El Monte,  El Segundo, Encino, Gardena, Glendale, Granada Hills, Hermosa Beach, Hollywood, Huntington Park, Inglewood, Koreatown, Lancaster,  Lawndale, Long Beach, Los Angeles, Manhattan Beach, Marina Del Rey, Mid-Wilshire, Monterey Park, North Hollywood, Northridge, Norwalk, Pacific Palisade, Palmdale, Palms, Pasadena, Playa Del Rey, Porter Ranch, Redondo Beach, Reseda, San Pedro, Santa Monica, Sherman Oaks, Silver Lake, South Los Angeles, Sun Valley, Studio City, Sun Valley, Toluca Lake, Torrance, Tujunga, Universal City, Valley Village, Van Nuys, Venice, West Hills, West Hollywood, West Covina, West Los Angeles, Westchester, Westlake, Westwood, Wilmington, Wilshire Center, Winnetka, Whittier, and Woodland Hills


  • Facebook Social Icon
  • Google+ Social Icon
  • LinkedIn Social Icon
  • Yelp Social Icon

Copyright © 2020 by Lensky Law Firm.  All rights reserved.