Last updated 2 months ago
Are you contemplating filing for bankruptcy because your debts exceed your ability to make monthly payments? As you will learn in this informative video, a bankruptcy lawyer can guide you through the process.
When you file for bankruptcy, you must give a complete assessment of all your assets and liabilities, or debts. Assets include cash, real property, and personal property. If you conceal or misrepresent your assets or liabilities, your bankruptcy filing is likely to be declined. For more details, watch the complete clip.
If you live in the greater San Diego area, call the Golden State Law Group at (858) 240-2480 today to talk to an experienced bankruptcy lawyer. Our skilled attorneys have unblemished records and are dedicated to providing the best legal representation to each and every one of our clients.
Last updated 2 months ago
Are you considering filing for bankruptcy but unsure of what your options are? Under Title 11 of the U.S. bankruptcy code, the two most common bankruptcy options available to consumers are Chapter 7 and Chapter 13. Before you meet with a bankruptcy lawyer, read on to educate yourself about the important differences between these two choices.
Liquidation Bankruptcy If you are overwhelmed by debt and have no foreseeable way to meet your minimum payment obligations, your lawyer may recommend filing for Chapter 7 bankruptcy. Chapter 7 permits a debtor to gain a fresh financial start by liquidating all debts. The first step in determining if you are a good candidate is a means test that compares your monthly income to your state’s median monthly income. If your income is below the median, a trustee will be appointed to liquidate your property to pay off your creditors. After the 100-day process is complete, your debts will be discharged. Under Chapter 7, many debtors are able to keep assets such as their homes, vehicles, and personal property.
Wage Earner’s Bankruptcy Do you currently have a reliable stream of income but are still unable to pay your creditors? Chapter 13 bankruptcy is often referred to as “wage earner’s” bankruptcy and may provide debt relief for you to reorganize their finances with the court’s help. If you have failed the means test and your monthly income exceeds your state’s median, your attorney may recommend Chapter 13. Under Chapter 13, your finances will be reorganized and you will repay a percentage of your total debts owed in an installment set by the court. A Chapter 13 repayment plan usually takes between three and five years to complete, and the debtor will not receive a discharge of any unpaid debt.
At the Golden State Law Group, your initial analysis with our affordable bankruptcy attorneys is always free of charge. Our lawyers have unblemished records and work with clients to promptly map out all of your legal options. Whether you opt to file for Chapter 7 or Chapter 13 bankruptcy, call (858) 240-2480 to get your finances back on track today.
Last updated 2 months ago
If you are like many Americans, you have been struggling to pay your bills, and you may have even had to file for bankruptcy. Watch this video to learn more about your legal rights when it comes to abusive debt collectors.
Although consumers are protected by debt collection laws, bankruptcy lawyers have increasingly discovered that many aggressive debt collectors often violate these rules. If you are being harassed by a debt collector, a lawyer can advise you of your rights under the Fair Debt Collections Act and applicable state laws.
If you think that you have been the victim of an abusive debt collector, contact the lawyers at the Golden State Law Group of San Diego today at (619) 234-3333. Our affordable bankruptcy attorneys can help you determine whether you have a case and, if necessary, file a complaint against the debt collector in court.
Last updated 2 months ago
Last updated 2 months ago
If you are like many people who are facing the threat of foreclosure, holding on to your home is your family’s first priority. Depending on your financial situation, filing for bankruptcy can save your home and bring foreclosure proceedings to an immediate halt. Contact a bankruptcy lawyer and review these frequently asked questions to determine if declaring bankruptcy could help you save your property:
Am I a Good Candidate for Bankruptcy? If you are considering filing for bankruptcy, your first step should be to contact an attorney who is qualified to help you analyze your financial situation. Bankruptcy may be the best tool if you are behind in payments but still have a steady stream of income, but can also be a viable option for homeowners who won’t be able to pay in the foreseeable future.
What Kind of Bankruptcy Should I Declare? As soon as you and your bankruptcy attorney file for either Chapter 13 or Chapter 7, the foreclosure process will stop immediately, and the court will temporarily prevent your creditors from taking any action against you. According to the terms of a Chapter 7 bankruptcy, your lender may still foreclose on your home if you do not satisfy your mortgage payments. With a Chapter 13 bankruptcy, debtors are usually given between three and five years to repair their finances, but must make regular monthly payments.
Will My Credit Suffer? A foreclosure will usually remain on your credit report for seven years, while a bankruptcy can remain for up to 10. But mortgage lenders take a foreclosure more seriously than a bankruptcy, inhibiting your ability to qualify for loans in the future. If your home is foreclosed on, that money becomes taxable, whereas all deficiencies discharged with bankruptcy are tax-free.
If you are facing foreclosure and considering filing for bankruptcy, call the Golden State Law Group at (619) 234-3333 to speak to an affordable bankruptcy attorney. Our experienced attorneys know that holding onto your home is a priority. Visit us online to check out our current offers and flexible payment plans today.
