Chapter 7 and Chapter 13 Bankruptcy Attorneys In Riverside California

Price Law Group has licensed bankruptcy attorneys in Riverside California that can help local residents looking to take control of their financial future with the process of filing for bankruptcy. In many situations, filing for bankruptcy is the right answer to your financial situation and our experienced bankruptcy attorneys can help determine which bankruptcy is right for you.

Riverside residents typically find that Chapter 7 or Chapter 13 bankruptcy is most suited to their needs. In both types of bankruptcies, you get the immediate relief that you need from your outstanding debts.

Chapter 7 bankruptcy in Riverside California may sometimes be referred to as “liquidation” or “straight bankruptcy”. You must qualify for this type of bankruptcy with the main qualification being that you earn less than the median income in your specific area. If you make the median income, or more than the median income, you may still qualify for Chapter 7 bankruptcy in Riverside California. There is no repayment plan in this type of bankruptcy and you can get the immediate relief you need against your outstanding debts.

Chapter 13 bankruptcy, also known as “wage-earners” bankruptcy is type of bankruptcy that provides a person the ability to start fresh, but still requires the filer to pay back some of their outstanding debts. Riverside CA residents that file under Chapter 13 will have monies set aside to cover rent or a house payment, utilities, a car payment, etc. but the majority of your income will be put towards paying off your outstanding debts calculated over a 3 to 5 year period.

Call Price Law Group today to work with our experienced bankruptcy attorneys in Riverside California and let us help you determine whether Chapter 7 or Chapter 13 bankruptcy is right for you.