Why file a bankruptcy?

It stays almost all collection activity and discharges your debts. When a bankruptcy is filed, an automatic stay is imposed that stops collection activity. If you complete the case, some or all your debts do not have to be repaid. The stay gives you breathing space and some additional time to make life-changing decisions until the Discharge is entered at the end of the case.

Even if you have never thought about bankruptcy or just have a few questions, I will make time to talk to you for free. The first meeting is always free. I would be happy to explain the different types of bankruptcy and whether one of them might work for you.

Chapter 7

  • Trustee appointed to liquidate assets
  • Stops collection with automatic stay
  • No payments to creditors
  • Discharges most debts
  • Get to keep most assets

Chapter 13

  • Stops foreclosures with automatic stay
  • To catch up on house payments
  • Helps debtors not qualified for chapter 7
  • Is your “best effort” to pay back some or none of your unsecured debt through a plan
  • To pay back taxes with no penalties or interest
  • To cram down a car loan to the value of the vehicle (rather than pay what you owe)

If you are in foreclosure (if you have received a Notice of Default or a Notice of Trustee Sale) and you desire to KEEP your property, or if you simply NEED MORE TIME, then perhaps I can be of some assistance to you. THE FORECLOSURE PROCESS CAN BE STOPPED. Please feel free, AT NO COST, to contact my office if you have any questions about the Foreclosure Process. By filing a Chapter 13 Bankruptcy the Foreclosure Process is immediately stopped.

The Chapter 13 Plan Confirmation Process will allow you to keep your home, or, if that is not in your plan, it will at least provide you with the necessary time to organize, plan and make important life changing decisions.

The Chapter 13 Bankruptcy will create an Automatic Stay, which STOPS all trustee’s sales, lawsuits, collection calls, garnishments and harassment. Also, if you have a second mortgage, you may be able to avoid paying it in a Chapter 13.

Be advised that it is illegal in California for anyone to ask you for fees up front to obtain a loan modification. Be careful of scams and false promises. No one can guaranty a loan modification. I will meet and talk with you about all your options for free.

Be careful of hiring a lawyer or law firm from out of the area. Don’t do it! Make sure you hire a local attorney with experience handling bankruptcy cases in the Eastern District of California. Bankruptcy cases can be complex and there are many local rules that must be followed. I have 25 years experience handling bankruptcy cases all over California.

It is a very difficult decision to file for bankruptcy. You may have other options. Please contact my office to explore your unique situation. The initial consultation is free.

(916) 677-1822
(916) 759-9826