Fremont Bankruptcy Law Offices
Are you trapped under burdensome debt with no means to pay it off? This can be quite traumatizing for anyone who has serious debts to repay
and is struggling to do so. Fortunately, a smart way to get out of such a situation is to file for a bankruptcy case with the help of a legitimate and skilled bankruptcy lawyer.
Bankruptcy cases tend to become quite complicated if not handled properly from the start. The majority of them are won and people end up debt-free, but these cases always have a strong legal representative on their side. Having excessive debts can be quite overwhelming and may even drive you crazy. This can all be avoided quite simply.
When is Bankruptcy a Good Option?
The federal government’s bankruptcy program has been set in place to help you eliminate most of your terrible debts or form a detailed payment plan through which you can take your time and repay your debts to the creditors. With a bankruptcy petition, you will have legal protection throughout the whole process.
For small businesses which are barely surviving and are loaded with debts, or people who have had major life-changing problems that urgently required them to take loans, bankruptcy acts as a last resort for them. Usually, people file for bankruptcy when they are unable to maintain a minimal living standard, as creditors keep pushing them to repay their debts rapidly. This becomes a very problematic situation and puts people in mental, emotional, and financial agony.
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The Benefits of Bankruptcy
Having large amounts of debts can put a person under terrible mental turmoil. For their relief, bankruptcy is their best option, provided that they have a talented and knowledgeable lawyer represent their case in the court. Divorces, expensive medical bills after getting hit with any major illness, change in the status of employment, environmental disasters and poor management of finances are some of the most common causes of bankruptcy in the USA.
Our company has a team of the smartest, most talented, and accomplished bankruptcy attorneys in Fremont, in Bay Area. Our lawyers are extremely competent at managing even the most complex of cases. Each attorney is polished to advocate for you with the utmost professionalism, compassion, and sensitivity. With the help of our personal bankruptcy lawyers, you can find your way back to financial stability swiftly and smoothly.
Different Paths through Bankruptcy
Chapter 7 and Chapter 13 are the most popular bankruptcy plans so far for Americans. It is imperative to choose the ideal kind of bankruptcy plan for you which you could potentially file and win to find relief from your massive debts. Both are quite successful but have some prominent differences that you need to understand before you could apply any one of them.
Chapter 7 bankruptcy is a liquidation bankruptcy. It is most suitable for those individuals who are low-income debtors and have minor or absolutely no assets whatsoever. With this plan, all your general debts, such as medical bills or excessive credit card bills will be completely wiped clean and you do not need to return the debt with any sort of plan for repayment. You will be entitled to an order known as the ‘automatic stay’ immediately once you file for Chapter 7. This prevents creditors from trying to push and collect your debts back for as long as the case is open.
You will be assigned a bankruptcy trustee who will review your documents and bankruptcy papers in extensive detail. Your trustee is also responsible for acquiring money to pay back your debtors by selling any nonexempt property that you may own. In cases where a debtor has no properties, this will lead to the creditor getting nothing. This is also great for those people whose debts are a lot more than the sold property’s value.
Chapter 13 bankruptcy is for those individuals who have large debts but still make enough money on a regular basis through income and hence, are not eligible for Chapter 7 Bankruptcy. In this case, a repayment plan will be set in motion through which you will be able to repay your loans bit by bit every month. Compared to Chapter 7, Chapter 13 bankruptcy offers more benefits.
For example, by filing a Chapter 13, debtors are allowed to not sell and instead keep their property, even the nonexempt property. It can also apply to cases who are ineligible for Chapter 17 but do require relief from some important debts such as lagging in being able to make payments for their car or house and still want to keep this property. Or in cases where you have alimony and child support debts which also could be paid off through a 3 to 5-year repayment plan. Chapter 13 is more of reorganization bankruptcy.
Depending on what plan you qualify for, your lawyer is the best person to guide you through this exhaustive process. Our lawyers are professionals at their job. They will always paint you the reality and even devise and discuss alternate resolutions with their clients. Our team is dedicated to helping you solve your financial crisis and maybe, at the end of it all, you would come out completely free of debts and the only expenses you would have had to cover would have been your attorney’s minor fee.
Our goal is to cater to all those clients who are looking to file bankruptcies and clean up their debts efficiently. At such a time, it is highly likely that clients are unable to take critical decisions properly. That is exactly what your lawyer is supposed to do- guide you into taking wiser decisions in your bankruptcy process. If bankruptcy is right for you or not, our lawyers will thoroughly examine your case and help you see through making the right choices that would serve in your best interest.
We understand this is a difficult time for you and it is our duty as lawyers to get you out of all legal jiffies. The bankruptcy system is in place to help all American debtors, but it is not as easy as it may seem, as the process and technicalities are endless. Therefore, we serve to help you achieve the best possible outcome from your bankruptcy case, whether you get a clean slate with your debts or if you need to create a sturdy repayment plan.
Why Choose Us
Filing for bankruptcy is a hectic and energy-consuming process and we only recommend you go ahead with it if all other financial options have been exhausted. In cases when individuals are stuck in severely critical situations, such as falling behind on mortgage payments, garnished wages, the threat of repossession of your assets, unpaid income taxes, heavy medical bills, or danger of foreclosure, we recommend you file for bankruptcy.
Our services of providing top-tier bankruptcy attorneys in all of Fremont, California are catered to helping you in your bankruptcy claims. With the most dedicated, trustworthy, competent, and compassionate lawyers, we are here for you whether you want to file for Chapter 7 or Chapter 13 bankruptcies. We aim to guide you and enable you to make the most beneficial decisions for you and your family.