Bankruptcy Help San Diego:
Lawyer Services & Information Guide.
- How San Diego Law Firm Can Help You
- What is Bankruptcy?
- Chapter 7 Bankruptcy
- Chapter 13 Bankruptcy
- How to Contact San Diego Law Firm
How San Diego Law Firm Can Help You
Meeting with a qualified San Diego bankruptcy attorney should be the first step if you are considering taking legal steps to get relief from overwhelming debt.
Our skilled lawyers can carefully evaluate your finances and situation. We can explain whether either bankruptcy or an alternative to bankruptcy is a good option for you. We can advise you on bankruptcy benefits and drawbacks, the timetables, and the costs. That way, you can make the right decision for yourself and your family.
If you decide to file for bankruptcy, we can handle virtually everything for you:
- We’ll complete all paperwork
- We’ll request your court-required tax returns from the IRS
- We’ll attend ALL of your court hearings
- We’ll arrange your court-required credit-counseling for you
- We’ll obtain your credit reports for you, at a low cost
- We’ll clearly explain the bankruptcy costs and our fees.
Please call us today at (619) 794-0243 to set up your confidential initial consultation. Or, for more information, you may contact us using the form at the bottom of this page.
What is Bankruptcy?
A bankruptcy eliminates your responsibility for certain types of debts. Creditors must stop collections on those debts once bankruptcy is filed. However, some types of property may be taken back by the creditor. Exactly how this works depends on the type of bankruptcy. There are two main types of bankruptcy available to individuals and married couples: Chapter 7 and Chapter 13.
Chapter 7 Bankruptcy: Get Rid of Most Debt with No Repayment
1. Who is Chapter 7 for?
Chapter 7 works best for individuals or married couples who:
- Have a lot of debt they cannot pay
- Do not have many high-value possessions or high-value real estate
- Have household income that is too low to reasonably pay off their debts.
If you do not qualify for Chapter 7 bankruptcy, or it is not a good choice for you, you may still qualify for Chapter 13 bankruptcy.
2. Most Debts Wiped Out after Chapter 7 Bankruptcy
Chapter 7 bankruptcy offers a “fresh start” to a life without most debts, such as:
- Credit Card Debt
- Medical Bills
- Payday Loans
- Past-due Rent
- Car Loans
- Many Other Kinds of Debt
3. Some Debts Remain
There are some debts that can’t be wiped out in Chapter 7, such as:
- Recent years of back taxes (with some limits)
- Student Loans
- Child Support
- Court Fines
- A Car Loan, if you keep a low-value car
- A Mortgage, if you keep a low-value home
- Certain Other Debts
4. High-value Items Sold Off to Pay Debt
The main drawback to Chapter 7 is that a Bankruptcy Trustee will sell off most valuable property to repay the debts. This includes homes, cars, jewelry, and more.
5. But You Keep Many Items:
However, you will be allowed to keep a surprisingly large number of items, such as:
- Many household items
- Your homestead, up to a legally-allowed value, if you keep paying the mortgage
- Cars worth less than a legally-allowed value, if you keep paying on the loan
- Jewelry up to a limited value
- Many other types of property and some types of income
The exact value of the items you will be allowed to keep depends on what you own, where you have lived, past choices you or your spouse have made, and choices you make when filing for Chapter 7 bankruptcy.
6. “Means Test”
There is something called a “means test” in Chapter 7 bankruptcy, where the court compares your income and possessions with your debts. If your income and possessions are too high compared to your debts, you may not qualify for Chapter 7, but may still be able to qualify for Chapter 13 bankruptcy. People with a high income may still qualify for Chapter 7 if they have certain expenses, such as child support, that bring their spendable income way down.
7. If Not Qualify for Chapter 7, May Qualify for Chapter 13
Remember, if you do not qualify for Chapter 7 bankruptcy, or it is not a good choice for you, you may still qualify for Chapter 13 bankruptcy.
If you are considering filing for any type of bankruptcy, please call San Diego Law Firm today at (619) 794-0243. Once we review your finances and personal situation with you, we can tell you if you qualify for Chapter 7 or Chapter 13 bankruptcy, and provide you with the information you will need to make the decision that is right for you. You may also contact us using the form at the bottom of this page.
Chapter 13 Bankruptcy: Repayment Plan
1. Who is Chapter 13 for?
Chapter 13 works best for individuals or married couples who:
- Have debt because of a temporary setback, such as a job loss or illness
- Have a source of steady income for making payments to a bankruptcy trustee
- Have a valuable vehicle or real estate they want to keep making payments on
- Have large “non-exempt” debts, such as taxes and student loans, that would not be wiped out by a Chapter 7 bankruptcy
- Chapter 13 may work for persons who cannot file for chapter 7.
2. Keep Valuable Property, Stop Foreclosure & Repossession
A Chapter 13 bankruptcy allows you to use a repayment plan to:
- Stop foreclosure and keep a home worth more than the Chapter 7 limits
- Keep all your possessions
- Stop collections on student loans, credit cards, and other debts
- Prevent a creditor from collecting on a loan from your co-signer
- Reduce some debts, and pay the rest over time
- File after a Chapter 7 so you can pay off any remaining debts or liens over time.
If you are considering filing for any type of bankruptcy, please call San Diego Law Firm today at (619) 794-0243. Once we review your finances and personal situation with you, we can tell you if you qualify for Chapter 7 or Chapter 13 bankruptcy, and provide you with the information you will need to make the decision that is right for you. You may also contact us using the form at the bottom of this page.
Contact San Diego Law Firm for Bankruptcy Help
If you are considering filing for any type of bankruptcy, please call San Diego Law Firm today at (619) 794-0243. Once we review your finances and personal situation with you, we can tell you if you qualify for Chapter 7 or Chapter 13 bankruptcy, and provide you with the information you will need to make the decision that is right for you.
How to Contact San Diego Law Firm
We handle matters throughout California, and new clients are always welcome. For more information or to make an appointment, please contact us either by:
Telephone: (619) 794-0243
E-mail: contactus@SanDiegoLawFirm.com
We can be reached by telephone Monday through Friday, 9:00 a.m. to 5:00 p.m. You may also use the
form below to contact us. This form is answered Monday through Friday during
the work day. Please remember that for us to become your attorneys, we must first have a written attorney-client agreement signed by both of us, so please do not email any confidential information at this point. After we have reached an agreement with you, we can then exchange information freely. We look forward to helping you.