Archive for January, 2010

Filing Personal Bankruptcy in Long Beach

Wednesday, January 27th, 2010

Thousands of California residents have been negatively affected by the current economic climate and need financial relief. Are you facing a home foreclosure? Do you avoid creditor calls? Maybe you have lost your job. You are not alone. No one wants to file bankruptcy, and it should be one of the last options considered, but if you are desperate and need help, a Long Beach bankruptcy lawyer can help discuss your financial options for getting a fresh financial start.

Filing Chapter 7 bankruptcy in Long Beach may allow you to discharge a portion or all of your personal debt. Filing Chapter 13 bankruptcy in Long Beach may allow you to develop a more favorable three to five year repayment schedule to repay your debts and stop a home foreclosure, property repossession or wage garnishments. Filing bankruptcy is a serious financial decision which should not be considered without first contacting a Long Beach bankruptcy attorney.

Filing Chapter 7 Bankruptcy in Long Beach

Filing Chapter 7 bankruptcy in Long Beach can be the least expensive, most common and easiest bankruptcy to use. Under Chapter 7 bankruptcy the filer’s assets will be sold and the money from the sale will be used to repay creditors.

A Long Beach bankruptcy lawyer files the bankruptcy petition in the appropriate bankruptcy court. The bankruptcy petition lists all of the exempt and non-exempt assets the filer owns, their creditor’s names and the amount of debt they owe. The bankruptcy court will review the petition to ensure it meets all the bankruptcy codes, if it does a 341 creditor meeting is scheduled. A trustee will be assigned to sell the filer’s non-exempt assets. After the assets are sold and the proceeds are distributed the remaining qualifying debt is discharged. Most Chapter 7 bankruptcy cases can be completed within four to six months from the date the bankruptcy petition is filed.

Filing Chapter 13 Bankruptcy in Long Beach

Filing Chapter 13 bankruptcy in Long Beach differs from filing Chapter 7 bankruptcy because the filer’s assets are not sold or “liquated”, but rather the filer is allowed to “reorganize” their debt with a new three to five year repayment schedule. Many repayment schedules allow for more favorable terms for repayment.

Filing Chapter 13 bankruptcy in Long Beach may not only stop home foreclosure, but may also help the filer avoid wage garnishments and other property repossession actions. Only individuals with a steady income are allowed to file Chapter 13 bankruptcy. Filers also can not have secured debt exceeding $807,750 or unsecured debt exceeding $269,250.

Personal Debts Not Eliminated By Filing Personal Bankruptcy

Filing Chapter 13 bankruptcy or filing Chapter 7 bankruptcy does not eliminate all personal debt. Many types of debt are not discharged by filing bankruptcy. Non-dischargeable debt is outlined under federal bankruptcy laws and is the same for every state. Filing bankruptcy in Long Beach, California, does not eliminate the following debts:

  • Most back taxes
  • Child support and alimony payments
  • Certain student loans
  • Purchases of luxury items within ninety days of filing personal bankruptcy in Long Beach
  • Fines owed to federal or California government agencies
  • Debts generated from fraudulent activity
  • Recent cash advances of $825 within 70 days of filing personal bankruptcy

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Personal Bankruptcy in Ontario, California

Tuesday, January 19th, 2010

If you are like hundreds of other Ontario residents facing home foreclosure or unable to pay your bills due to a death, high credit card bills, an expected medical crisis or a divorce, you may be looking for a financial solution. Bankruptcy has been created by the federal government for individuals just like you who simply need a fresh financial start and have exhausted all other possible solutions.

Filing bankruptcy in Ontario is a very serious decision and should not be done without first contacting an Ontario bankruptcy lawyer. If filing bankruptcy is right for you, you may be able to file Chapter 7 bankruptcy in Ontario and discharge either all or a part of your personal debt. If you do not qualify for Chapter 7 bankruptcy, you may be able to file Chapter 13 bankruptcy. Filing Chapter 13 bankruptcy may allow you to restructure your debt with more favorable repayment terms and repay your creditors over a three to five year time period.

Filing Chapter 7 Bankruptcy in Ontario

One of the simplest, least expensive and quickest bankruptcy methods to discharge personal debt is through Chapter 7 bankruptcy. Recent changes to bankruptcy law have made filing Chapter 7 bankruptcy more difficult and an Ontario bankruptcy attorney should be contacted to verify a filer’s eligibility. Filing Chapter 7 bankruptcy in Ontario will allow the filer’s non-exempt assets to be sold and the proceeds from the sale to be used to repay the filer’s creditors. Certain assets are considered exempt and are not part of the liquidation process.

The first step to file Chapter 7 bankruptcy in Ontario is to contact an Ontario bankruptcy attorney who can file the bankruptcy petition. Exempt assets, non-exempt assets, creditor information, and filer’s income are all included in the petition. A review of the bankruptcy petition will be done by the bankruptcy court. A trustee is assigned to sell the filer’s assets and a meeting is held for the creditors (341 Creditor’s Meeting). For most Chapter 7 bankruptcy cases the filer’s debts and the bankruptcy proceedings will be concluded within four to six months.

Filing Chapter 13 Bankruptcy in Ontario

Chapter 13 bankruptcy in Ontario differs from Chapter 7 bankruptcy. Chapter 13 bankruptcy is not a liquidation of assets but rather a reorganization of creditor payments. The filer is allowed to work with their Ontario bankruptcy lawyer to create a new bankruptcy repayment plan. The bankruptcy repayment plan is a three to five year debt repayment schedule and must be approved by the bankruptcy court. Only filers who have a steady income can file Chapter 13 bankruptcy in Ontario. A filer’s unsecured debt can not exceed $269,250 and their secured debt can not exceed $807,750.

Personal Debts Not Eliminated By Filing Personal Bankruptcy

Non-dischargeable debts are not discharged by filing personal bankruptcy. Non-dischargeable debts are outlined in federal bankruptcy laws and do not vary by state. The following debts are not discharged by filing bankruptcy in Ontario, California:

  • Most back taxes
  • Child support and alimony payments
  • Certain student loans
  • Purchases of luxury items within ninety days of filing personal bankruptcy in Ontario
  • Fines owed to federal or California government agencies
  • Debts generated from fraudulent activity
  • Recent cash advances of $825 within 70 days of filing personal bankruptcy

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Personal Bankruptcy in Riverside

Monday, January 11th, 2010

Millions of Americans have been affected by the current economic downturn and have sought financial relief by filing bankruptcy. If you are facing a home foreclosure or high medical bills or if you avoid creditor calls hoping they will stop calling, you may need help. Nobody wants to file bankruptcy and it is a serious decision which should be carefully considered. If you live in Riverside and would like more information about filing bankruptcy in Riverside, a Riverside bankruptcy lawyer can help.

Filing Chapter 7 bankruptcy in Riverside may allow you to eliminate most or all of your debt within three to six months. Filing Chapter 13 bankruptcy in Riverside does not automatically discharge your debt, but may allow you to develop a more favorable bankruptcy repayment plan which can discharge most or all of your debt within three to five years.

Filing Chapter 7 Bankruptcy in Riverside

Filing Chapter 7 bankruptcy in Riverside can be a fast, simple and inexpensive way to discharge most of your debts. Current bankruptcy laws have made it more difficult to qualify for Chapter 7 bankruptcy so it is important to talk to a Riverside bankruptcy attorney.

Filing Chapter 7 bankruptcy begins by filing the bankruptcy petition in bankruptcy court.  The bankruptcy petition will include the filer’s creditor information, a list of their non-exempt and exempt assets and the amount of debt they owe. The court will review the bankruptcy petition, schedule the 341 Creditor’s Meeting and assign a trustee to liquidate the filer’s assets. The trustee is responsible for distributing the proceeds from the liquidation to the creditors for debt repayment. Many Chapter 7 bankruptcy filers do not have property to liquidate; these cases are considered “no asset cases”. Chapter 7 bankruptcy can be completed and qualifying debt discharged generally within four to six months of filing the bankruptcy petition.

Filing Chapter 13 Bankruptcy in Riverside

Filing Chapter 13 bankruptcy in Riverside does not immediately discharge debt, but it may stop a home foreclosure and property repossession and allow the filer to keep their assets by creating a new payment plan for debt repayment. Chapter 13 bankruptcy is considered a “reorganization” not a “liquidation”. This is important to filers who have a lot of property or assets they want to keep.

Not all Riverside residents can file Chapter 13 bankruptcy in Riverside. Filers must have a steady, dependable income source available for debt repayment. Riverside filers also can not have unsecured debt which is more than $269, 250 or secured debt which is more than $807,750.

Personal Debts Not Eliminated By Filing Personal Bankruptcy

Not all debt is eliminated by filing Chapter 7 or Chapter 13 bankruptcy in Riverside. Certain types of debt are not discharged and the filer is still responsible for debt payments. Debts not discharged are defined under federal bankruptcy law and do not vary by state. Filing bankruptcy in Riverside, California will not discharge the following:

  • Most back taxes
  • Child support and alimony payments
  • Certain student loans
  • Purchases of luxury items within ninety days of filing personal bankruptcy in Riverside
  • Fines owed to federal or California government agencies
  • Debts generated from fraudulent activity
  • Recent cash advances of $825 within 70 days of filing personal bankruptcy

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Personal Bankruptcy in San Diego

Friday, January 8th, 2010

If you are like thousands of other California residents who are unable to pay their medical bills, credit card bills or facing home foreclosure, a San Diego bankruptcy attorney might can help. San Diego debtors who have exhausted other financial options to regain their financial footing may be able to liquidate their assets by filing Chapter 7 bankruptcy or restructure their debt payments by filing Chapter 13 bankruptcy.

Many people want to know when it is the right time to file bankruptcy. Unfortunately, there is no right answer to that question, but a San Diego bankruptcy lawyer can answer questions about current bankruptcy laws and identify if you qualify for Chapter 7 bankruptcy or Chapter 13 bankruptcy.

Filing Chapter 7 Bankruptcy in San Diego

Filing Chapter 7 bankruptcy in San Diego can be an inexpensive, quick and simple way for San Diego residents to discharge their debts and start over financially. Chapter 7 bankruptcy is the most common type of bankruptcy filed. Filing Chapter 7 bankruptcy allows for the liquidation of a debtor’s non-exempt assets to repay their creditors. Many debtors do not have property or assets to liquidate and this type of bankruptcy is considered a “no-asset” bankruptcy case. Most Chapter 7 bankruptcy cases can discharge a debtor’s qualifying debt within four to six months after the bankruptcy petition is filed.

San Diego residents who are considering filing Chapter 7 bankruptcy in San Diego should contact a San Diego bankruptcy lawyer who can file the bankruptcy petition in the proper San Diego bankruptcy court. The bankruptcy petition will include a list of the debtor’s exempt and non-exempt assets, income, creditor’s information and debt. A bankruptcy trustee will be assigned to review the petition, meet with the creditors at the 341 Creditor’s meeting and sell the debtor’s assets to pay their creditors.

Filing Chapter 13 Bankruptcy in San Diego

Filing Chapter 13 bankruptcy in San Diego does not discharge an individual’s debt immediately but will allow for the debt to be repaid over 3 to 5 years with a repayment plan. Many times the repayment plan provides much more favorable repayment options. Filing Chapter 13 bankruptcy in San Diego may allow San Diego residents the option to stop a home foreclosure and keep their assets.

Only certain qualifying individuals will be able to file Chapter 13 bankruptcy in San Diego. To qualify, a debtor must have an income source that can be used to make payments for their repayment plan. Unsecured debts can not exceed $269,250 and secured debts can not exceed $807,750.

Personal Debts Not Eliminated By Filing Personal Bankruptcy

Certain debts are not discharged by filing Chapter 7 or Chapter 13 bankruptcy in San Diego. Federal bankruptcy laws outline the types of debt that are not discharged and because the bankruptcy laws are created at the federal level they will be the same for each state. If an individual files Chapter 7 bankruptcy or Chapter 13 bankruptcy in San Diego, the following debts will not be discharged.

  • Most back taxes
  • Child support and alimony payments
  • Certain student loans
  • Purchases of luxury items within ninety days of filing personal bankruptcy in San Diego
  • Fines owed to federal or California government agencies
  • Debts generated from fraudulent activity
  • Recent cash advances of $825 within 70 days of filing personal bankruptcy

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Filing Personal Bankruptcy in Modesto

Wednesday, January 6th, 2010

Modesto residents who are considering filing bankruptcy in Modesto, California should contact a Modesto bankruptcy lawyer for information on current bankruptcy laws. Filing bankruptcy is a very important decision which should not be made without considering all of your financial options. Recent changes to bankruptcy laws have made it more difficult to file Chapter 7 bankruptcy in Modesto and discharge all of your debt immediately. Many Modesto residents will now be forced to restructure their debt payments by filing Chapter 13 bankruptcy instead of Chapter 7 bankruptcy.

Many people want to know if it is the right time to file bankruptcy. There is no right answer to this question, but hundreds of Modesto residents who have suffered an unexpected divorce, death, medical crisis or high credit cards bills and have found financial relief by filing bankruptcy in Modesto.

Filing Chapter 7 Bankruptcy in Modesto

Filing Chapter 7 bankruptcy in Modesto can be one option for eliminating most if not all personal debt (except if the filer has debt considered non-dischargeable). Personal debt which can be discharged by filing Chapter 7 bankruptcy includes high credit card bills and medical bills. Filing Chapter 7 bankruptcy in Modesto allows the filer’s non-exempt assets to be sold and the proceeds from the sale to be used to pay creditors.

The first step in filing Chapter 7 bankruptcy is for the Modesto bankruptcy attorney to file the bankruptcy petition in bankruptcy court. The filer will provide a list of all of their assets (exempt and non-exempt), creditor information and the amount of debt they owe for the petition. After the bankruptcy petition is approved by the bankruptcy court, a 341 Creditor Meeting is scheduled and a court appointed trustee is assigned to sell the filer’s assets and repay the creditors. Filing Chapter 7 bankruptcy in Modesto can discharge most filer’s debts within four to six months.

Filing Chapter 13 Bankruptcy in Modesto

Filing Chapter 13 bankruptcy in Modesto does not immediately discharge the filer’s debts, but it can stop home foreclosure, property repossession and wage garnishments by allowing the filer to restructure their debt payment with a new three to five year repayment plan. Many times the repayment plan can have more favorable repayment terms.

Filing Chapter 13 bankruptcy is not an option for all Modesto residents. Individuals must have a steady income available to make their bankruptcy payments under the new schedule. To file Chapter 13 bankruptcy filers also can not have secured debt greater than $807,750 or unsecured debt greater than $269,250.

Personal Debts Not Eliminated By Filing Personal Bankruptcy

Filing Chapter 13 or Chapter 7 bankruptcy in Modesto only eliminates certain debt outlined under federal bankruptcy law. It does not matter where the filer lives, the dischargeable debt allowed will be the same for every state. Modesto residents should discuss their eligible dischargeable debt with a Modesto bankruptcy attorney. Filing bankruptcy in Modesto, California, does not eliminate the following debts:

  • Most back taxes
  • Child support and alimony payments
  • Certain student loans
  • Purchases of luxury items within ninety days of filing personal bankruptcy in Modesto
  • Fines owed to federal or California government agencies
  • Debts generated from fraudulent activity
  • Recent cash advances of $825 within 70 days of filing personal bankruptcy

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