Our Bankruptcy Lagal Team is There to Help with Bankruptcy Litigation, Foreign Insolvency and Debt Restructuring in El Cajon.
Personal to you and your situation, which then requires a specialized and unique approach at choosing if filing for bankruptcy is right for you, and navigating the many questions that may arise regarding chapter 7 or chapter 13 cases.
Our professional team of bankruptcy lawyers in El Cajon with a track record of sheer success is here to add a human touch to approaching, reducing, and eliminating any debts that you or your corporation may have under the Bankruptcy Circumstances specific to your case.
Bankruptcy is extremely intricate, as well are the differing bankruptcy laws and local bankruptcy court rules, and choosing to work with a bankruptcy lawyer will help to settle your Chapter 7 or Chapter 13 Filing in a manner that not only reduces the stress of the situation, but that leads to only the positive results you need to efficiently move past your bankruptcy.
El Cajon Chapter 7 Bankruptcy
It tends to be that the only time you ask yourself "what is chapter 7 bankruptcy?" is when you are currently dealing with deciding if filing for chapter 7 is the best choice for your debts.
Chapter 7 bankruptcy is sometimes called "Liquidation Bankruptcy" and that is because it allows you to entirely erase (or liquidate) forms of dischargeable debts with the benefit of retaining some of your personal property.
Dischargeable debts include:
- Medical Bills
- Credit Card Debt
- Personal Loans
- Payday Loans
Dischargeable debts are different from non-dischargeable debts like child support, and secured debts.
A secured debt is a form of debt that has a tangible item attached to its agreement, such as a car loan (the car is attached) or a mortgage (the house). And one of the positives regarding chapter 7 filing is you are usually allowed to keep said assets, so you are not left without a car or a home after this usually Quick Legal Process is complete.
If you are simply unable to pay back certain debts that you owe in your lifetime, then consulting with a chapter 7 bankruptcy lawyer will showcase to you the best path for Long Term Credit Improvement and debt elimination through our assistance in your chapter 7 case.
There are certain qualifications to reach chapter 7 eligibility, including a test that you must take, as well as many Chapter 7 Exemptions that help you to keep your personal property after you have filed for bankruptcy, so to best ensure that you're well being is protected, call us now for a chapter 7 lawyer consultation.
Chapter 13 Bankruptcy in El Cajon
Chapter 13 filing will help you to create a plan of debt repayments that works for your life and your income.
By approaching your debts with a professional bankruptcy lawyer in a chapter 13 filing, the result is a Court-Mandated Repayment Program set in place that allows you to reasonably tackle your debt without requiring you to sell any assets.
That is why chapter 13 bankruptcy is sometimes called "˜Reorganization Bankruptcy' or a "˜wage earners plan'. It allows you to create a scheme of payments for all of your debts that are affordable in comparison to your wage that, when followed correctly, after a usually 3-5 year timeframe will pay off what you owe.
When done correctly with the right bankruptcy lawyer in El Cajon, your chapter 13 filing can:
- Protect your Assets
- Prevent Possible Foreclosure
- Protect you from Third-Party Collectors
- Create a Debt Repayment Plan
And of course, eliminate debt entirely when completed!
There are many specifications and qualifications regarding chapter 13, and whether or not you might qualify for chapter 13 filing, and we would love to talk you through the best bankruptcy filing option for you and how our law team can provide valuable assistance to your bankruptcy filing
in El Cajon.