Bankruptcy Lawyer Downtown San Diego

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2. INDEX 03 Bankruptcy Attorney San Diego Bankruptcy Attorney San Diego California California 04 Bankruptcy Lawyer San Diego Bankruptcy Lawyer San Diego California California 05 Bankruptcy Lawyer Downtown San Bankruptcy Lawyer Downtown San Diego Diego 06 San Diego California San Diego California Bankruptcy Attorney Bankruptcy Attorney 07 Photo Gallery 08 Our Services 09 Bankruptcy Attorney Bankruptcy Attorney Downtown San Diego Downtown San Diego 10 San Diego California San Diego California Bankruptcy Lawyer Bankruptcy Lawyer 2

3. Many people struggling with debt in the San Diego California area are now considering bankruptcy as a way to eliminate those debts and obtain relief. For those who are not legal experts or experienced in the practice of bankruptcy law, the different options and path to relief can oftentimes feel overwhelming. 3

4. The complexity involved starts with the lengthy and cumbersome laws dealing with bankruptcy. The U.S. Bankruptcy Code involves page after page of legal descriptions, mandates, and rules that apply to many different situations. While some of the code applies to all bankruptcies, parts of the code only apply one or another chapter within the code. 4

5. One Bankruptcy Code is 7. When someone files for protection under this section of the code, it is often referred to as a Chapter 7 bankruptcy. of the different chapters within the U.S. 5

6. In contrast to other chapters within the code, Chapter 7 exists to help those who are suffering from too much debt, and do not have the income capacity to restructure debts or work creditors. San Diego Bankruptcy Attorney can stop creditors from harassing you and can even save your home. out a plan with 6

7. Bankruptcies filed under Chapter 7 have to meet several requirements before a federal bankruptcy judge will approve the petition. For example, there are income requirements that a person must meet, and if he or she does not, then a different chapter of the code would likely be better. 7

8. If then bankruptcy lawyer San Diego will be your best option. In addition to income requirements, Chapter 7 bankruptcies involve the risk of losing property. In contrast to a Chapter 11 or 13 filing, Chapter 7 petitions often put up all of the debtor’s possessions for liquidation by the court. you want free analysis of your legal case 8

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10. There are exceptions to what property will be sold as a result of the petition, and those exceptions will vary by state. As a result, California has its own rules for those filing for Chapter 7 bankruptcy. 10

11. One of the key reasons why Chapter 7 petitions can be helpful is that it allows a debtor to list all of her debts and have most of them discharged. 11

12. This allows a debtor who is in over his or her head to have a fresh start and independence going forward. complicated by the types of debt involved, facts of the case, and whether all of the rules pertaining to bankruptcy have been followed. try to reach financial But discharge can be 12

13. Another purpose of a Chapter 7 petition is to treat creditors fairly and evenly. Because Chapter 7 petitions typically end in discharge of all debts, no one creditor is paid while another is left fighting for what is left over. a 13

14. In typical cases, the estate containing the assets of the debtor is accumulated and liquidated and the remains are split between creditors through a court appointed trustee. Restore experienced team of Bankruptcy Attorney San Diego. At the Bankruptcy Law struggling with debt find relief through the laws found in the Bankruptcy code. your financial independence with our Center we help those 14

15. If you are struggling with debts and facing the prospect of filing for bankruptcy, consider contacting us. San understand what your options are, and help you with a path forward. Diego Bankruptcy Lawyer will help you 15

16. Bankruptcy is a term that most people, lawyers and lay people alike, understand. To the average person, bankruptcy means a fresh start financially in which a person’s debts are discharged, and he or she starts over after relinquishing rights to much of his or her valuable properties. Once the conversation turns to different chapters of bankruptcy, however, the details become a bit less clear. 16

17. Within the United Bankruptcy Code there are several different kinds of bankruptcy representing a different approach to clearing a person or business’s debts. The individuals filing bankruptcy are Chapters 7 and 13. Each of these chapters has different options and aspects that appeal to different types of debtors. chapters, each primary chapters for 17

18. When contemplating whether filing for bankruptcy is a good idea for you, it is best to have a general sense of what each chapter under the Bankruptcy Code means. One of the most common types of bankruptcy is a Chapter 7 filing, and it may or may not be the right type for you. If you want free analysis of your legal case then bankruptcy lawyer San Diego will be your best option. 18

19. A typical Chapter 7 bankruptcy filing allows a debtor to declare his or her debts, and discharge most of them. This allows a debtor to walk away from debts, but it also means giving assets. For those seeking bankruptcy protection who are also seeking to preserve their assets, Chapter 13 may be a great option. up some important 19

20. Bankruptcy under Chapter 13 allows a debtor to restructure debt through a plan submitted to the court overseeing the bankruptcy petition. In a typical case, a debtor will list income and debts, and come up with a proposed plan for the court to approve or deny. 20

21. Then payments are made over a three to five year period. After the payment plan is done, the debts are gone. San Diego Bankruptcy Attorney can stop creditors from harassing you and can even save your home. 21

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23. The history of the Chapter 13 bankruptcy goes back to the late 1970s. Bankruptcy itself has been evolving in this country and England since the late 1400s, and during the 1970s Congress saw that there was a need for the kind of bankruptcy that allowed both the debtor and creditor to win. 23

24. The purpose behind a Chapter 13 bankruptcy is to ensure that a person can retain some of his or her most important assets, while making good on paying back some debts. In addition, the creditors win because they are allowed to collect on some of the debts they are owed, which do not then represent a complete loss. 24

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