From the most basic to the most complex cases, we have successfully handled thousands of bankruptcy cases throughout California.
If you are an individual facing financial difficulty, or a business encountering insolvency problems, our firm has the experience and expertise to wipe out, discount, modify, reduce interest and payments, or reorganize your debt. If you are facing foreclosure of your property, garnishment of your wage, or levy of your account, and are in need of immediate help, we could usually stop the process by doing an emergency filing.
Which chapter to file depends on individual circumstances. People normally file Chapter 7 to wipe out unsecured debts, Chapter 13 to save their homes from foreclosure or strip off a junior mortgage (for those who qualify), or Chapter 11 to reorganize business debt.
For those who are ineligible to file bankruptcy or for moral reasons do not wish to do so, our firm will negotiate with creditors to reduce and settle your debts. Creditors we have dealt with vary from mortgage lenders, credit card companies, the hospitals, trade suppliers, student loan lenders, IRS, private lenders, plaintiffs in lawsuits, and just about all other types of creditors.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
We offer a number of services depending on your financial situation. We provide Chapter 7, Chapter 11, Chapter 13, debt settlement, and other legal services to help you get back on your feet.
Simply put, if your income is below the applicable state median ($47,683 for 1 earner and up to $74,806 for family of 4, in the state of California, as of 11/1/2011), and you either have no assets or all of your assets are exempted under the state law, you may be qualified to file Chapter 7. If you have income over than the state median, then a "means test" will be applied to determine whether the chapter 7 filing is "presumptively abusive." Chapter 7, also called straight bankruptcy, which allows you to wipe out all of your dischargeable debts. The debtor may be an individual, a partnership, a corporation, or other business entity.
An individual files Chapter 11 mainly because her debt, secured or unsecured, exceeds the maximum debt allowed in a chapter 13. Business file Chapter 11 to reorganize or orderly liquidate their assets.
If your income is above median in your state, or if you have assets that are not exempted by law and have a regular income, you may be qualified to file a Chapter 13. Chapter 13 is also called wage earner's plan. It requires you to pay a fixed amount per month over 3 or 5 years. To qualify for this chapter, your secured debt must not exceed $1,010,650 and your unsecured debt must not exceed $336,900 (applicable from April 1, 2007 thru March 31, 2010, adjustable every 3 years by CPI).
Chapter 13 is frequently used to stay foreclosure proceedings. The delinquent mortgage payments (arrearage) may be cured over the life of the plan.
Sometimes, it is better to negotiate with your creditors to settle your debt. This is a good solution if you have substantial non-exempt assets, and bankruptcy is not an option for you.
Adversary and Motion Practice
If you are not a debtor, but you are sued by the bankruptcy trustee or someone else in the bankruptcy court in an adversary action, whether for preferential transfer, pre-petition set off, or fraudulent transfer, etc., our firm will provide adequate defense to your case.
If you are a debtor, and are being sued for violations of 11 USC section 523 or 727 (non-dischargeability of debt), or would like us to defend a motion to lift automatic stay, or other motions or adversary proceeding, we can help.