If you are struggling with credit card debts, a home mortgage, car loan, paying back taxes to the Internal Revenue Service or Franchise Tax Board, wage garnishment or were recently sued by a creditor bankruptcy can help. We have filed hundreds and hundreds of bankruptcy cases for residents of the Bay Area. We offer very reasonable fees and have offices throughout the Bay Area for your convenience. Give us a call at 1-877-9NEW-LIFE to schedule a free consultation and start your new life without overwhelming debts.
True Freedom is Financial Freedom
In this day and age the only real freedom in the United States is having the ability to pay your bills and have money left over to enjoy life. If you are just chipping away at your debts and paying the minimum balances you will probably never be debt free in less than 25 years. Life is short and filing bankruptcy to just get rid of your debts and move on with life could be your key to financial freedom.
Keep Your Stuff and Your House
Contrary to what you hear from people you do not automatically lose all of your stuff or your house when filing for bankruptcy under Chapter 7 or Chapter 13. You can get rid of all of your unsecured debts and still keep your stuff and your house. It all depends upon your income, expenses and the value of the stuff you own. California has generous exemptions to exempt your personal property from becoming property of the bankruptcy estate. There are limits to the amount that can be protected, but most people in the Bay Area will keep all of their personal property when filing for bankruptcy protection. There are two sets of exemptions under California Civil Procedure under Sections 703 and 704. Section 704 provides for a generous homestead exemption. The homestead exemption protects equity you may have in your house so that you keep the house. For a number of years now few people filing for bankruptcy protection had equity in their houses. Recently in most areas of the Bay Area home prices are on the rise. This means that obtaining an appraisal prior to filing for bankruptcy protection is becoming more important again.
Bankruptcy is the Beginning, Not the End
Many people believe filing bankruptcy is the end of the road. This could not be farther from the truth. It is the beginning of your new life living without the debts causing you stress each month. It will be the beginning of your new life paying your bills on time every time so you can rebuild your credit for the future.
Chapter 13 Bankruptcy
Filing a Chapter 13 case means you have to make a monthly payment to the Chapter 13 Trustee assigned to administer the bankruptcy estate. Not all bankruptcy lawyers have the experience we have regarding Chapter 13 cases. Mr. Wood was formerly a staff attorney for David Burchard, Chapter 13 Trustee for the San Francisco and Santa Rosa Divisions of the Bankruptcy Court for the Northern District of California. There are many reasons why filing a Chapter 13 case may be in your best interest. The most common reasons are to save money on vehicle loans, discharge and pay back taxes without penalties or interest, catch up on missed mortgage payments, get rid of underwater second mortgages or equity lines of credit, keep assets while discharge a portion of unsecured debts and discharging credit card debts just like in a Chapter 7 case. Some of you will be pushed into a Chapter 13 case because you can afford to pay back some of your debts in a Chapter 13 plan. You may only be obligated to pay back 10% of your debts and receive a 90% discharge. You may also be obligated to pay more or less than this example. It all depends upon your income, expenses and assets. During your free consultation we will go over how you fit into the bankruptcy world.
Our fees are generally below market for Chapter 7 cases and for Chapter 13 cases we usually charge less than the guidelines for each division of the United States Bankruptcy Court for the Northern and Eastern Districts. We do provide personal service for a reasonable fee. There are two courses that must be completed to file and receive a discharge of your debts. The first course, credit counseling, is $5.00 per person and can be completed on-line. The second course, financial management, is $7.95 for a single filer or joint filer and can also be completed on-line. For some reason other bankruptcy attorneys charge their clients as much as $50 for each course. Why pay $100 or more when you can complete the same courses for only $12.95 total?