Archive for February, 2010

« Older Entries

How Much Does Bankruptcy Cost in New York?

Saturday, February 27th, 2010

Both Chapter 7 and Chapter 13 bankruptcy are rights you have under federal law to gain relief from creditors. It’s a legal proceeding which can give you a fresh start. But both Chapter 7 and Chapter 13 bankruptcy have advantages and disadvantages, namely what they can help with and the time it will take.

There is also a common question, how much does filing bankruptcy cost? Filing Chapter 7 bankruptcy or Chapter 13 bankruptcy in New York is different as most states have different laws on things like exemptions. What is the same is the filing price.

Chapter 7 bankruptcy in New York costs around $299 to file with the court. The fees for Chapter 13 bankruptcy in New York are about $274 for filing with the court. Those expenses may seem small, especially if you know the benefits of Chapter 7 and Chapter 13 bankruptcy in New York.

So what can bankruptcy do for you?

-Eliminate most debts
-Stop foreclosure of a home
-Stop the “Repo” men from getting your car or other property
-Stop wage garnishments
-Stop creditor harassment
-Keep your utilities going
-Get your drivers license back in many cases

Bankruptcy is a good alternative to losing all your possessions, but with the new laws making it harder to file in certain cases, hiring professional bankruptcy attorneys can save you a lot of time and money. It isn’t always a good choice to file bankruptcy. Also, Chapter 7 and Chapter 13 bankruptcy have limitations in what they can do.

Bankruptcy Can’t:
-Eliminate certain rights of creditors
-Erase debts you gained after bankruptcy
-Discharge child support, alimony, some divorce related debts, most student loans, taxes, and others

The above info is important. Your creditors will still have rights. In terms of costs, neither Chapter 7 nor Chapter 13 bankruptcy filings are incredibly expensive. The real problem is choosing between Chapter 7 and Chapter 13 bankruptcy, and the best way to do that is with professional counsel. While filing costs little, hiring a bankruptcy attorney typically costs more. The rates are different, but a few things are clear.

Some bankruptcy attorneys in New York and elsewhere will charge you just for the initial consultation. This makes it important to ask questions before even the first consultation. Also, all bankruptcy attorneys are required by law to show you and the the courts how much they are charging you.

One of the key advantages in filing bankruptcy is making certain property exempt. New York law, for example, allows protection of your home, car, and other properties to a certain extent. But this is where it can be complicated and where the right attorney can help.

Filing Chapter 7 or Chapter 13 bankruptcy in New York may not be free, but it’s more than worth it if you have outstanding debts you simply cannot pay back. Instead of waiting for the creditors, call an attorney with the experience to help you.

Tags: , , , , , , ,
Posted in Bankruptcy Information, Chapter 13 bankruptcy, Chapter 7 bankruptcy | No Comments »

Why Do People File for Chapter 7 Bankruptcy in New York?

Thursday, February 25th, 2010

Since Chapter 7 bankruptcy is  the most common form of bankruptcy in the state of New York and the entire U.S., it begs some questions. Why do people file for Chapter 7 bankruptcy? What are the problems that go on?

This is important to you because it shows the general causes of filing for bankruptcy in the first place. It’s about money, of course, but often it’s through no fault of your own. Filing for Chapter 7 bankruptcy in New York is an option on the table for most everyone. It’s wise to work with professional bankruptcy attorneys in New York to see the big benefits of filing.

Clearly, filing means you lose outstanding debts, at least in Chapter 7 bankruptcy. The creditors are happy, they get paid and stop bothering you. In Chapter 13 bankruptcy, the story is different because you are buying extra time so you can pay back creditors in installments.

So is outstanding debt the most common reason people file Chapter 7 bankruptcy? That’s a broad term to use, but outstanding debt is the  prime reason for filing Chapter 7 bankruptcy in New York. But what happens before that is even more important.

The most common reasons for filing bankruptcy are:
-Unemployment
-Large medical expenses
-Overextended credit
-Marital problems
-And other large unexpected expenses

Let’s go over how you can handle each situation.

Filing for Chapter 7 Bankruptcy in New York
If you lost your job, clearly it will be hard to stay on top of monthly bills. This is one of the benefits of filing for Chapter 7 bankruptcy: you get a second chance. It’s part of the idea of helping out those in need.

Large medical expenses are another cause for worry. If you have no insurance, even with a job, a sudden accident can send you into debt. Chapter 7 bankruptcy can erase these debts, along with many other kinds.

If you have overextended credit on many possessions, and risk house foreclosure or “repo” men, filing Chapter 7 bankruptcy can save your house, car, and other major assets.

What Debt Chapter 7 Bankruptcy in  New York Eliminates
Chapter 7 bankruptcy can eliminate the majority of your outstanding debts. You will technically be paying back the debts through a trustee selling possessions. However, bankruptcy attorneys in New York can help you save your home and protect many of your most  important possessions.

The good news is most of your debt is gone after filing. Chapter 7 bankruptcy can eliminate all but these debts: child support, alimony, student loans, and income tax debt. That means the majority of your debts can be eliminated.

Bankruptcy Attorneys in New York
Chapter 7 bankruptcy should be done with help. With the new bankruptcy laws of 2009, it’s tougher to file for Chapter 7 bankruptcy. Many are now forced to file for Chapter 13 bankruptcy, which in essence only gives you more time to pay back outstanding debts. With professional counsel from bankruptcy attorneys in New York, you can save your home and car, avoid the “repo” man, and  stop creditor harassment.

Tags: ,
Posted in Bankruptcy Information, Chapter 7 bankruptcy | No Comments »

When to File Chapter 7 Bankruptcy in Las Vegas

Monday, February 22nd, 2010

In November of 2009, new laws went into effect for all states regarding eligibility for Chapter 7 bankruptcy. This news may sound scary, but in reality it doesn’t necessarily mean it will be tougher to file Chapter 7 bankruptcy in cities like Las Vegas, New York, Los Angeles, and San Diego.

For Nevada residents, the new bankruptcy laws instituted a median for how much money you could earn if you were eligible for Chapter 7 bankruptcy.

According to the law, for an individual, you can’t make more than $46,3156, for two people $60,449, for three $67,052, and for four $71,104.

That’s a numbers crunch, and there are tools available to see if you can actually file Chapter 7 bankruptcy in Las Vegas.

The laws may change yet again, so how can you be sure you can file for Chapter 7 bankruptcy in Las Vegas, Nevada  or any city for that matter? And when should you file for Chapter 7 bankruptcy, why not Chapter 13?

What Chapter 7 Bankruptcy is for Las Vegas Residents
You’re worried you make too much. With the new laws, you may not be eligible for Chapter 7 bankruptcy, but that means hiring a professional bankruptcy attorney who can help you decide. There are other forms of bankruptcy you can file too. However, Chapter 7 bankruptcy is still the most common form, and an attorney can help you file successfully.

Chapter 7 bankruptcy is basically a liquidation proceeding. A trustee is given power to sell your non-exempt valuables, which can include homes and cars, in order to pay back your debt. You will then be free of all debts after filing.

Filing Chapter 7 Bankruptcy in Las Vegas
Chapter 7 bankruptcy in Las Vegas protects you from creditor harassment, foreclosure of homes, moments of financial uncertainty, and from losing everything you’ve worked so hard for. Nevada law, as noted, has been through some changes, but these changes are for all states. It’s just that the median income varies for each state. Filing for Chapter 7 bankruptcy in Las Vegas can be tougher because of the new laws, making hiring professional bankruptcy attorneys a must. This can be a simple process, as bankruptcy is set up to help you.

When to File for Chapter 13 Bankruptcy in Las Vegas
With the new laws in effect, many Chapter 7 bankruptcies are changing to Chapter 13. Chapter 13 bankruptcy in Las Vegas is different in that you are only given more time to pay back creditors. With Chapter 7 bankruptcy you can expect to lose all debts and be free from creditor harassment for the most part. Chapter 13 bankruptcy in Las Vegas means you’re given 3-5 extra years to pay back outstanding debts. When should you file for Chapter 13 bankruptcy instead of Chapter 7? Few cases are alike. You should consult a Las Vegas bankruptcy lawyer for a consultation.

Need Help Filing Chapter 7 Bankruptcy in Las Vegas?
The best way to file for Chapter 7 bankruptcy in Las Vegas is with professional counsel. The hearings–if you’ve ever been to one–are typically short and often seem easy. This is a misconception. There is a lot that goes on both inside and outside the courtroom. Filing for Chapter 7 bankruptcy in Las Vegas requires a professional attorney who can walk you through the process.

Tags: , ,
Posted in Bankruptcy Information, Chapter 7 bankruptcy | No Comments »

5 Ways Chapter 13 Bankruptcy Attorneys Can Help You

Sunday, February 21st, 2010

Chapter 13 bankruptcy helps you do many things, including rebuilding credit, stopping foreclosure, saving other valuable possessions, and buying you an extended period of time to pay back outstanding bills. While Chapter 7 bankruptcy is all about cutting your losses and starting from scratch, Chapter 13 bankruptcy is different. It doesn’t take the debt away, but gives you considerable more time to rebuild your finances.

It’s wise to work with specialist Chapter 13 bankruptcy attorneys no matter where you live, from California to New York. Chapter 13 bankruptcy in New York and California works under the same laws, but not all bankruptcy attorneys are equal. Chapter 13 bankruptcy attorneys are really a must as filing is far from simple. But there are many attorneys, so how can you choose, how can they help, and what will it cost?
Let’s go over 5 clear ways professional bankruptcy attorneys can help you with Chapter 13 bankruptcy to answer those questions.

1-Stop Foreclosure
What happens if your home goes into foreclosure? Chapter 13 bankruptcy is the perfect solution for buying you more time to get help. It’s wise to get counsel with professional bankruptcy attorneys as to whether you should file Chapter 7 or Chapter 13 bankruptcy. The advantage with Chapter 13 is you are better able to hold onto your home, because after filing you are legally protected from foreclosure for outstanding mortgage payments.

2-Save Your Car
The second most important item most individuals and families have is their car. Just like saving you from foreclosure, Chapter 13 bankruptcy saves your vehicle from the “repo” man. Your past due payments will be consolidated and you’ll get 3-5 years to pay them off.

3-Student Loan Problems
If you have outstanding student loans, times can be tight. Chapter 7 bankruptcy isn’t always wise here, as you can’t eliminate most student loan debts. However, just as you can stop foreclosure and avoid losing your car, you can consolidate your student loans and buy yourself some extra time to pay them off.

4-Paperwork in Filing for Chapter 13 Bankruptcy
Hiring bankruptcy attorneys is always a must no matter if you’ve decided on Chapter 7 or Chapter 13 bankruptcy, even if you think you know the process. Bankruptcy is a complex task and is far from simple. A bankruptcy attorney can help you save your home, car, and relieve problems with other outstanding bills like student loans.

5-Handing the Case in Court
Lastly, the Chapter 13 bankruptcy hearing may be short, but there is a lot that goes on. Instead of risking mistakes, having professional counsel on hand to offer expertise is essential. If you need bankruptcy attorneys in New York, California, or any state, hire counsel you can trust.

Tags: ,
Posted in Bankruptcy Information, Chapter 13 bankruptcy | No Comments »

4 Pluses of Filing for Chapter 7 Bankruptcy in New York

Friday, February 19th, 2010

Chapter 7 bankruptcy is often called “straight bankruptcy” as it’s the most common of bankruptcy cases. Chapter 7 bankruptcy is a liquidation proceeding, intended to help you with outstanding debts. This includes getting a fresh start on bills you can’t afford anymore, help when you’ve lost your job and cannot find one immediately, if you have high amounts of credit debts, and if you have overwhelming medical bills. There are many other reasons to file Chapter 7 bankruptcy, especially in the state of New York. Whatever your reason, filing for Chapter 7 bankruptcy has many pluses which can help you financially.

Chapter 7 bankruptcy for New York residents works like this. A debtor  turns over all non-exempt property you have to a trustee who will liquidate the possessions to pay back creditors. You can typically be debt free within 4 months. This gives you a fresh start.

There are many clear pluses for filing for Chapter 7 bankruptcy in New York. But when should you actually file? Should you hire a bankruptcy attorney in New York?

Chapter 7 bankruptcy is usually what you want, mainly because Chapter 13 bankruptcy only buys you more time to pay back creditors. If you are unable to pay outstanding debts, and are in danger of losing everything, Chapter 7 bankruptcy in New York is wise.

You should put a lot of thought into filing before you make the final decision. The good news is a bankruptcy attorney in New York can help you access the situation, see if you’re eligible to file, and explain clear benefits you will get.

But let’s go over the biggest pluses you’ll receive from filing Chapter 7 bankruptcy in New York

1-Stop Creditor Harassment
Chapter 7 bankruptcy can eliminate most of your debts, which has the desired effect: creditors have no reason to call your residence anymore. If you’ve been through creditor harassment, you don’t need to be told the stress it can put on your life. Filing Chapter 7 bankruptcy in New York eliminates most of your debts, giving creditors no reason to harass you. Those creditors who continue can be directed to your bankruptcy attorney instead of calling you.

2-Repossession Debts
If you’re afraid you’ll lose possessions, such as your car, there are some things to consider. Technically,  the finance company can repossess your car and sell it to reduce their loss. You are then responsible for the balance on the car. However, you can eliminate the balance on your possessions by working with the right bankruptcy attorney in New York.

3-Garnishments
Though you may lose your car, you can avoid the outstanding balance. The good news is, filing for Chapter 7 bankruptcy in New York is one of the most effective ways to stop garnishment of wages. If you owe a creditor a large amount, they can technically garner your wages and make paying bills problematic to say the least. However, a bankruptcy attorney can walk you through the Chapter 7 process and you can avoid lost wages.

4-Rebuild Your Credit
Filing Chapter 7 bankruptcy in New York means it will be on your credit report for 10 years. The laws are changing, but you can actually start rebuilding your credit immediately. You will be able to buy a car, even a home in some cases. The interest rates will be higher, but just because you file for Chapter 7 bankruptcy in New York does not mean your credit went down the drain. You will be given the opportunity to rebuild your credit and move on by filing for Chapter 7 bankruptcy in New York.

Tags:
Posted in Bankruptcy Information, Chapter 7 bankruptcy | No Comments »

5 Benefits of Hiring Bankruptcy Attorneys in California

Tuesday, February 16th, 2010

When should you file for bankruptcy? In difficult economies, in times of job loss, a family death, or sickness, it may be the last thing on your mind and the last thing you want to do. In fact, there are many crucial benefits of filing either Chapter 7 or Chapter 13 bankruptcy in California. Hiring bankruptcy attorneys in California may sound like giving up, but in fact there are just too many benefits to ignore.

So what’s good about filing for bankruptcy? You’ll lose everything, right? Wrong.

Bankruptcy is a second chance designed to help you with debts you simply cannot pay. Hiring bankruptcy attorneys in California is logical if: you lost your job, you lost your health insurance and became ill, you’ve fallen into debt with credit card companies, or if you fear you’ll lose everything you own because of debts. There are many other reasons for filing, but let’s go over 5 big benefits of hiring bankruptcy attorneys in California.

1-Lose Your Debt by Filing for Chapter 7 or Chapter 13 Bankruptcy in California
In Chapter 7 bankruptcy, you lose all unsecured debts. With Chapter 13 bankruptcy, you buy yourself a lot of time to pay back the debts. The good news is bankruptcy attorneys in California with the right experience know the ins and outs of filing for both Chapter 7 and Chapter 13 bankruptcy. You can get council on which i best for you, how to save the most money, and how to eliminate the most debt.

2-No More Harassment
One big problem those in debt have is creditors calling their homes. It’s harassment in many ways. Technically, creditors can still call you after you file bankruptcy, but hiring bankruptcy attorneys in California or any state makes it possible for you to tell the creditors to call your attorney. Your attorney can handle the problem for you, and you can be free of the headaches.

3-No More Fear and Uncertainty with Bankruptcy Attorneys Help
If you don’t know how to file,the advantages of filing, and how you will pay, bankruptcy attorneys in California can help with the fear and uncertainty. You can know from day 1 what will happen with your finances. Yes, most bankruptcy hearings are short and to the point, but there is a lot of detail that goes on outside the courtroom and in paperwork. You need a professional to help.

4-The Price is Right
Of course, hiring bankruptcy attorneys in California isn’t free, but the right attorney will work with you on payments. Some bankruptcy filings allow for the attorney to be paid through the settlement as well. In either case, it’s much cheaper to hire the right attorney the first time instead of doing it yourself which would be more costly.

5-No Mistakes with Help from Bankruptcy Attorneys in California
Lastly, filing Chapter 7 or Chapter 13 bankruptcy in California can be complicated. You need to know which to file, how to handle certain creditors, how to pay back debt, and how to handle a myriad of other things. The final benefit in hiring professional bankruptcy attorneys is that you can be assured of no mistakes.

Tags: , , , , , , , ,
Posted in Bankruptcy Information | No Comments »

Choosing to File for Help with California Bankruptcy Lawyers

Saturday, February 13th, 2010

Filing Chapter 7 or Chapter 13 bankruptcy today may seem hard with new laws going into effect, but the fact is the right California bankruptcy lawyers can not only save your home and property but also give you peace of mind.

The new laws are not cause for worry. Many California residents, if not most, will still be as eligible to file as before. Some may be forced to file for Chapter 13 bankruptcy, but if you want Chapter 7 bankruptcy it’s likely you can still file for it.

So when should you file for Chapter 7 or Chapter 13 bankruptcy in California? Why should you hire California bankruptcy lawyers?

The truth is that, while your petition may seem simple, bankruptcy is a complex process. Not just anyone can handle all the paperwork, fees, and negotiations involved. Choosing to file for help with California bankruptcy lawyers is a wise decision.

Filing for Chapter 7 Bankruptcy in California
Filing Chapter 7 bankruptcy in California is the most common choice, technically, and often the cause for least headaches. It’s also called a “straight bankruptcy,” and it’s technically a liquidation proceeding. The debtor will use a trustee to use non-exempt property to pay back debtors. In many cases, you lose absolutely nothing by filing for Chapter 7 bankruptcy in California. Just because you have a home, car, or you’re married, doesn’t necessarily complicate the process. You might lose real estate, automobiles, and other assets, but not always. That’s why choosing to hire a California bankruptcy lawyer is wise so you can hold onto possessions.

Filing for Chapter 13 Bankruptcy in California
Chapter 13 bankruptcy is different for debtors as you’ll be basically getting an extension to pay back your debtors over a 3-5 year period. If you have a lot of valuable property you might lose in Chapter 7 bankruptcy, federal laws allow you to hold onto these, pay back debtors, and do so over a more manageable period of time. Chapter 13 bankruptcy can be complex too. While the hearing may be short, in order to pay back debtors, handle the court, and follow all laws, California bankruptcy lawyers with talent can save you time, money, and a lot of headaches.

Why Hire a California Bankruptcy Lawyer?
It’s been pointed out that hiring a bankruptcy attorney is very wise. While filing for  Chapter 7 or Chapter 13 bankruptcy may seem to be only a lot of paper work and a short court hearing, there are some key advantages in working with professional California bankruptcy lawyers. In some cases, creditors will be harassing you for payment. A lawyer can step between you and creditors, giving you less headaches and more peace of mind. Also, paying the fines, not losing your property, staying within the laws, and knowing all the details on bankruptcy are all important pieces bankruptcy lawyers can help with.

Choosing to File Bankruptcy
Filing bankruptcy is not giving up, nor is it only for people with creditors harassing them and huge fines. Some may have just lost their job, and can’t afford to pay back smaller amounts. Others may have made a bad investment. The truth is, federal law provides help for citizens who need a hand. And the right California bankruptcy lawyers manage the process so you can get it done and move on.

Tags: , , , , , , ,
Posted in Bankruptcy Information, Chapter 13 bankruptcy, Chapter 7 bankruptcy | No Comments »

Before You Hire a Bankruptcy Attorney in California

Friday, February 12th, 2010

Hiring a bankruptcy attorney is far  from giving up on your economic future, nor is it always the correct thing to do. Sometimes, however, you should know exactly what’s happening in order to be more confident in filing Chapter 7 and Chapter 13 bankruptcy in California.

So when should you hire a bankruptcy attorney if you live in California? Before you decide whether or not to file Chapter 7 or Chapter 13 bankruptcy, there are some key points you should be aware of.

What Bankruptcy is in California
First, bankruptcy is far from failure. It’s designed to help people who, often through no fault of there own, get large debts. Many California residents file Chapter 7 and Chapter 13 bankruptcy because of job loss, health problems and medical bills, sometimes just to hang onto their homes.

And filing bankruptcy has plenty of pluses too. You get protection from creditor harassment. Technically, creditors can still contact you after you file bankruptcy, but you can also tell the creditors to contact your attorney instead of harassing you.  A bankruptcy attorney in California can take care of this, and it’s a major plus when you aren’t getting calls every day of the week about past due bills.

Other advantages of filing  bankruptcy also point out the crucial advantages  of hiring an attorney. For one, you don’t have to worry so much about all the technical details. You wouldn’t operate on yourself if you were sick, and just as much you shouldn’t be expected to handle everything in the complex bankruptcy process. A California bankruptcy
attorney can save you a lot of nights worrying about whether or not you made a mistake in filing.

This points out another case in point: mistakes. You might make mistakes and draw the process out longer than it needs to be. Time is valuable, so a professional bankruptcy attorney in California can help you navigate complex laws and come out without losing everything.

Hiring a Bankruptcy Attorney in California
Hiring a bankruptcy attorney is smart if you live in any state, but for California residents struggling to pay back debts and with no hope, it’s definitely the smart decision. Before you hire a bankruptcy attorney, you should consider that this person will be a big part of your life during  the bankruptcy. You might think this is a one and done thing, in for 10 minutes and then its over.

Actually, bankruptcy hearings may be short, but they can be very scary. After  all, your whole financial  future is at risk. Beforehand, a bankruptcy attorney will have to do a lot of complicated work, including how to handle creditors.

When You Hire a Bankruptcy Attorney in California
Be critical in who you hire when  it comes to a bankruptcy attorney. This process, if you’ve ever heard of someone in it, can be very stressful if you hire someone who lacks the knowledge to handle it. Hire someone you can trust, who knows the ins and outs of Chapter 7 and Chapter 13 bankruptcy, and has your future in mind.

Bankruptcy is more complicated than it appears on the surface. People who have seen or attended a bankruptcy hearing testify that the meetings are often over quickly. What is not apparent from the meeting is that most of the complicated work is done before the meeting takes place. The hearing should go smoothly if everything was done right ahead of time.

Tags: , , , , , , ,
Posted in Bankruptcy Information | No Comments »

Advantages of Chapter 7 and Chapter 13 Bankruptcy in California

Thursday, February 11th, 2010

Filing Chapter 7 or Chapter 13 bankruptcy in California can be advantageous for many Americans who face steep medical bills, loss of jobs and homes, divorce, even high credit debt. You can get immediate relief by filing for bankruptcy, but the skills of a bankruptcy attorney in California can help ease the difficulty of the complex process.

What is Chapter 7 bankruptcy and how can it help California residents? What  are the advantages of Chapter 13 bankruptcy? And what are the differences between the laws?

First, it’s important to have the correct bankruptcy attorney to see you through either Chapter 7 bankruptcy or Chapter 13 bankruptcy in California. The laws are designed to provide immediate help . However, not all bankruptcy attorneys are equal in the California area. Choose your attorney wisely.

Advantages of Chapter 7 Bankruptcy
Bankruptcy involves Chapter 7 or Chapters 11,12, and 13. Don’t let that confuse you, as 11, 12, and 13 are very similar. Chapter 7 is called liquidation, and is the most common of all bankruptcy types in California and the country. In this case, a trustee will sell assets and distribute it to those owed money.

The key advantages of Chapter 7 bankruptcy in California are, first, you can eliminate most unsecured debts, if not all of them. Second, the process can be completed in a matter of months with the right bankruptcy attorney. Third, creditors you owe money to will not be able to contact you during the process and after the debts are eliminated.

Another advantage is that you can qualify in most cases simply for Chapter 7 bankruptcy in California. You take a “means test” and file with a credit counselor to be eligible in California.

Advantages of Chapter 13 Bankruptcy
You can also find relief for big debts and headaches via Chapter 13 bankruptcy, which has many advantages and some differences with Chapter 7 bankruptcy. It’s still wise to work with a knowledgeable bankruptcy attorney in California.

With a Chapter 13 bankruptcy filing, the debtor is allowed to use future earnings  to pay off the creditors. Under Chapter 13 bankruptcy, you also use a trustee to supervise the assets of the debtor. The first key advantage is that creditors are not allowed to contact you for debts owed anywhere but the proceeding.

The second advantage is that Chapter 13 bankruptcy in California buys you more time to pay off creditors. This can save you from  losing property or worse. Typically you get 3-5 years to pay off the debts owed. And no creditors will be allowed to contact you during this time span where you are paying them back.

So who can file Chapter 13 bankruptcy in California? A knowledgeable bankruptcy attorney in California can help you with this, but in short any debtor who has unsecured debts below $336,9000 and whose secured debts are less than $1,010,650.

The First and Most Important Step
Hire a bankruptcy attorney in California who can walk you through the entire process. The Chapter 7 and Chapter 13 bankruptcy laws allow you plenty of help when plagued by debts. Give a qualified attorney a call today for bankruptcy help.

Filing Chapter 7 or Chapter 13 bankruptcy in California can be advantageous for many Americans who face steep medical bills, loss of jobs and homes, divorce, even high credit debt. You can get immediate relief by filing for bankruptcy, but the skills of a bankruptcy attorney in California can help ease the difficulty of the complex process.

What is Chapter 7 bankruptcy and how can it help California residents? What are the advantages of Chapter 13 bankruptcy? And what are the differences between the laws?

First, it’s important to have the correct bankruptcy attorney to see you through either Chapter 7 bankruptcy or Chapter 13 bankruptcy in California. The laws are designed to provide immediate help . However, not all bankruptcy attorneys are equal in the California area. Choose your attorney wisely.

Advantages of Chapter 7 Bankruptcy

Bankruptcy involves Chapter 7 or Chapters 11,12, and 13. Don’t let that confuse you, as 11, 12, and 13 are very similar. Chapter 7 is called liquidation, and is the most common of all bankruptcy types in California and the country. In this case, a trustee will sell assets and distribute it to those owed money.

The key advantages of Chapter 7 bankruptcy in California are, first, you can eliminate most unsecured debts, if not all of them. Second, the process can be completed in a matter of months with the right bankruptcy attorney. Third, creditors you owe money to will not be able to contact you during the process and after the debts are eliminated.

Another advantage is that you can qualify in most cases simply for Chapter 7 bankruptcy in California. You take a “means test” and file with a credit counselor to be eligible in California.

Advantages of Chapter 13 Bankruptcy

You can also find relief for big debts and headaches via Chapter 13 bankruptcy, which has many advantages and some differences with Chapter 7 bankruptcy. It’s still wise to work with a knowledgeable bankruptcy attorney in California.

With a Chapter 13 bankruptcy filing, the debtor is allowed to use future earnings to pay off the creditors. Under Chapter 13 bankruptcy, you also use a trustee to supervise the assets of the debtor. The first key advantage is that creditors are not allowed to contact you for debts owed anywhere but the proceeding.

The second advantage is that Chapter 13 bankruptcy in California buys you more time to pay off creditors. This can save you from losing property or worse. Typically you get 3-5 years to pay off the debts owed. And no creditors will be allowed to contact you during this time span where you are paying them back.

So who can file Chapter 13 bankruptcy in California? A knowledgeable bankruptcy attorney in California can help you with this, but in short any debtor who has unsecured debts below $336,9000 and whose secured debts are less than $1,010,650.

The First and Most Important Step

Hire a bankruptcy attorney in California who can walk you through the entire process. The Chapter 7 and Chapter 13 bankruptcy laws allow you plenty of help when plagued by debts. Give a qualified attorney a call today for bankruptcy help.

Reblog this post [with Zemanta]

Tags: , , , , , , ,
Posted in Bankruptcy Information | No Comments »

Personal Bankruptcy in Huntington Beach

Monday, February 8th, 2010

If you are considering filing bankruptcy in Huntington Beach, California, and need information you can contact a Huntington Beach bankruptcy lawyer for help. Millions of American have faced a financial crisis in the last several years whether through increased medical costs, job loss, divorce, death or high credit card debt. Many of these people have found relief by filing bankruptcy.

Filing bankruptcy is a serious financial decision with long term financial considerations and should not be done without consulting a Huntington Beach attorney. However, many Huntington Beach residents have found financial freedom by filing Chapter 7 bankruptcy and discharging all or most of their debt or filing Chapter 13 bankruptcy and creating a more favorable repayment plan for repaying their debt. Don’t avoid creditor calls or refuse to open you mail. There is help. Contact a Huntington Beach bankruptcy lawyer today.

Filing Chapter 7 Bankruptcy in Huntington Beach

Filing Chapter 7 bankruptcy in Huntington Beach may be an inexpensive, simple way to gain financial freedom. Filing Chapter 7 bankruptcy will discharge all or most of a debtor’s unsecured debt (credit card bills, medical bills) by liquidating their assets and using the proceeds from the sale to repay creditors. Before filing Chapter 7 bankruptcy in Huntington Beach it is important to contact a Huntington Beach bankruptcy attorney who can review the current bankruptcy laws and ensure the debtor qualifies for Chapter 7 bankruptcy.

The first step in filing Chapter 7 bankruptcy in Huntington Beach is for the bankruptcy attorney to file the bankruptcy petition in the proper bankruptcy court. The bankruptcy petition lists the filer’s exempt and non-exempt assets, debts, income and creditors. A trustee is appointed by the bankruptcy court to help sell the filer’s non-exempt assets and repay creditors with the money from the sale. The bankruptcy court will review the petition to ensure it complies with the bankruptcy code and arrange a meeting with the filer’s creditors (341 Meeting). Most Huntington Beach filer’s can expect the entire process to take 4 to 6 months from the date the bankruptcy petition is filed.

Filing Chapter 13 Bankruptcy in Huntington Beach

Filing Chapter 13 Bankruptcy in Huntington Beach does not discharge debts immediately, but rather allows the filer to develop a bankruptcy payment schedule (often with more favorable repayment terms) to pay their debts over a 3 to 5 year period. Chapter 13 bankruptcy is a “reorganization” bankruptcy unlike Chapter 7 which is a “liquidation” bankruptcy. One benefit of filing Chapter 13 bankruptcy in Huntington Beach is that many filers will be able to avoid home foreclosure and keep their home. Filing Chapter 13 bankruptcy can also stop wage garnishments and property repossession.

Not all Huntington Beach residents can file Chapter 13 bankruptcy. Filers must have a steady income source to meet the requirements of the bankruptcy repayment plan and can not have unsecured debt which is higher than $269,250 or secured debt which is higher than $807,750.

Personal Debts Not Eliminated By Filing Personal Bankruptcy

Some debts will not be erased or discharged by filing bankruptcy in Huntington Beach. Non-dischargeable debts are outlined in federal bankruptcy law and can include 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 Huntington 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

Tags: , , , , , , ,
Posted in Bankruptcy Information | No Comments »

« Older Entries