Do you have questions about bankruptcy? Are you struggling to make ends meet because of monthly credit card bills and hospital costs? Is your business being sued or are creditors seizing your bank accounts and other assets? If so, call a San Fernando bankruptcy attorney at (888) 754-9877 about how bankruptcy could be a solution.

Chapter 7 can cancel out thousands of dollars in credit card, medical and department store bills. Fear losing your home to foreclosure or a car to repossession? A Chapter 13 can allow you to keep all your assets while repaying creditors over a period of years. A San Fernando bankruptcy attorney can explain how it works.

Chapter 11 is for businesses that need time and the ability to restructure. A San Fernando bankruptcy attorney will advise you if your business could use Chapter 11 to revive your struggling business.

San Fernando bankruptcy attorneys are knowledgeable and skilled in these types of bankruptcies and will counsel you on whether bankruptcy is right for you and how it can help many San Fernando consumers and businesses.

Chapter 7 Bankruptcy

Have a Chapter 7 Bankruptcy Lawyer first see if you qualify for filing based on your income or disposable income and then examine your assets and liabilities. If filing is feasible, your Chapter 7 Bankruptcy Lawyer will have you take a credit counseling class before filing a petition listing your financial affairs. Once your petition is filed, all collection activity including asset seizures and lawsuits must cease.

You and the Chapter 7 Bankruptcy Lawyer will meet with the bankruptcy trustee to review your finances and assets and other information. Your Chapter 7 Bankruptcy Lawyer can handle any concerns. Within 90 days or so, you will receive a notice of discharge whereby unsecured debts like credit card and medical bills are canceled.

If your San Fernando business is filing, talk to a San Fernando bankruptcy lawyer since most will have to liquidate their assets and cease operations.

Chapter 13 Bankruptcy

If you have substantial non-exempt assets or are ineligible to file Chapter 7, a Chapter 13 may be available provided your debts are below a certain level. A Chapter 13 Bankruptcy Attorney will advise you on whether this can benefit you.

Your Chapter 13 Bankruptcy Attorney files a plan for you to repay secured creditors over a 3 or 5 year period. The repayment plan can include past due payments for your mortgage, student and car loan, taxes, alimony and child support. You can also retain all your assets under this filing.

Sole proprietors can include their business debts in a Chapter 13 if they are personally liable on them. See your Chapter 13 Bankruptcy Attorney for more information. Your Chapter 13 Bankruptcy Attorney can also reduce the value of some secured debt in the plan as well. Any unsecured debt left over at the plan’s conclusion will be discharged.

Chapter 13 Bankruptcy

Corporations and San Fernando partnerships as well as individual debtors can file Chapter 11. Also called a reorganization, it is primarily used by large businesses seeking to stay in business and which allows them to pay creditors over time. Talk to an experienced Chapter 11 Bankruptcy Lawyer about the procedures.

Usually a Chapter 11 Bankruptcy Lawyer files a disclosure statement listing the business assets and liabilities and business affairs. Within 4 months of filing, your San Fernando bankruptcy lawyer files a reorganization plan that must classify claims and how they will be handled. Impaired creditors vote on confirming the plan.

Individuals who file must follow the same disclosure requirements and provide the same documentation as in a Chapter 13. Smaller San Fernando businesses may not have the same reporting requirements and can be fast-tracked through the proceedings though they are under stricter supervision.

Businesses can with court approval hire specialists and other professionals to assist it in its restructuring efforts. Numerous businesses emerge from Chapter 11 successfully.

Contact a San Fernando bankruptcy lawyer at (888) 754-9877. about the bankruptcy process. A San Fernando bankruptcy lawyer will advise and handle all aspects of your case.