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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.

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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.

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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.

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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.

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Considering Personal Bankruptcy in Sacramento?

Friday, February 5th, 2010

No one wants to file personal bankruptcy, and it should be one of the last options for regaining financial footing, but last year alone thousands of Americans who suffered through an unexpected medical crisis, divorce, death or high credit card bills filed for bankruptcy in California and have found financial relief.

If you are considering filing bankruptcy in Sacramento it is important to contact a Sacramento bankruptcy lawyer for more information about whether you qualify for Chapter 7 or Chapter 13 bankruptcy. Filing Chapter 7 bankruptcy can discharge certain types of debt. Filing Chapter 13 bankruptcy may allow for more favorable repayment terms. When is the right to file bankruptcy? There may not be a right answer to that question, but Sacramento bankruptcy attorneys can provide information about bankruptcy laws and help you identify if bankruptcy is right for you.

Filing Chapter 7 Bankruptcy in Sacramento

Filing Chapter 7 bankruptcy in Sacramento, California, can allow debtor’s to regain their financial footing by selling their non-exempt assets and using the proceeds from the sale to repay their creditors. Chapter 7 bankruptcy can be an inexpensive, simple way to for Sacramento residents to get a fresh start.

Filing Chapter 7 bankruptcy in Sacramento begins by contacting a Sacramento bankruptcy lawyer who will file the bankruptcy petition is a Sacramento bankruptcy court. Information about the debtor’s assets, property, debts, and creditors will need to be provided. A bankruptcy trustee is assigned to the bankruptcy case to review the bankruptcy petition and sell the Sacramento debtor’s assets to pay their creditors. Most Chapter 7 bankruptcies can be completed within 4 to 6 months.

Filing Chapter 13 Bankruptcy in Sacramento

Filing Chapter 13 bankruptcy in Sacramento will not be as easy as filing Chapter 7 bankruptcy, but it will allow the debtor to reschedule their debt payments with a bankruptcy repayment plan. The bankruptcy plan generally will allow more favorable repayment terms and can be completed within 3 to 5 years.

One benefit of filing Chapter 13 bankruptcy in Sacramento is that a debtor’s assets do not have to be liquidated. Filing Chapter 13 bankruptcy may allow a debtor to stop home foreclosure, property repossessions and wage garnishments. Not everyone can file Chapter 13 bankruptcy. Individual’s will need a steady source of income to qualify and can not have unsecured debt which is higher than $269,250 or secured debt higher than $807,705.

Personal Debts Not Eliminated By Filing Personal Bankruptcy

Filing bankruptcy in Sacramento does not eliminate certain types of personal debt. Non-exempt debt is determined by federal bankruptcy laws and is the same for all states. The following debts will not be discharged by filing Chapter 7 or Chapter 13 bankruptcy in Sacramento:

  • Most back taxes
  • Child support and alimony payments
  • Certain student loans
  • Purchases of luxury items within ninety days of filing personal bankruptcy in Sacramento
  • 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 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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