Chapter 7 - Debt Elimination

New U.S. bankruptcy regulations have redefined the steps you must take before filing a personal bankruptcy as well as the type of bankruptcy action you may choose. Designed specifically to provide greater protection to creditors, these new laws make it much harder to file a chapter 7 debt liquidation action as opposed to Chapter 13 debt reorganization and may require additional steps including debt counseling. A bankruptcy lawyer from Nicastro Piscopo can clearly explain these new laws and apply them correctly according to your situation and goals.


At Nicastro Piscopo our attorneys have extensive experience in helping families throughout California explore personal bankruptcy as a remedy to serious financial problems. The government provides bankruptcy as legal protection against aggressive collection tactics while you get back on your feet. We advise and represent clients on all aspects of personal bankruptcy protection and are prepared to intervene immediately against creditors and the government:

  • Chapter 7 (debt liquidation)
  • Chapter 13 (debt reorganization)
  • Negotiation with the IRS after the issuance of a tax lien
  • Immediate protection against mortgage foreclosure and other financial judgments
  • Immediate cessation of creditor harassment and aggressive collection tactics

Chapter 7 bankruptcy filing allows an individual to discharge all or part of a debt while retaining exempt assets determined by the bankruptcy court. Chapter 7 differs from Chapter 13, which is a debt reorganization process whereby you agree to an ongoing payment plan for all or part of an existing debt. An attorney from Nicastro Piscopo will take the time to explain personally both options and how it may relate to your unique situation. We will also explore other options in pursuit of a legally sound outcome putting you back on the road to financial health.


Credit counseling may seem like a favorable alternative to bankruptcy but it is important to remember that many credit-counseling agencies are subsidized by the credit card companies. These services exist to recover debts for creditors, NOT to place you on a strong financial footing. If you are confused about your choices, please CONTACT an attorney from the Costa Mesa law offices of Nicastro Piscopo first for a FREE consultation and case evaluation at our offices in Costa Mesa. Give us the opportunity to explain your full legal rights and options before you make these important decisions. We offer affordable solutions designed with your specific needs in mind.