ClickCease Bankruptcy Lawyers in Belmont, CA - Legal Facts

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Bankruptcy Attorney in Belmont, CA

We all know that law and law-related matters are tedious. But fortunately, legalfacts.org came to help all those who are not familiar with the law to gain knowledge about legal matters in an easy to read and simple to understand way. 

In addition, this website helps its readers to get in touch with experienced legal professionals, who will be willing to listen to you if you are going through difficult times while giving you their professional perspective and offering you hope to get a solution to your problems. If you want to learn about bankruptcy and its features, this is the page you need, keep reading!

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What is the Fresh Start Program?

Do you feel like debt is about to destroy your life? 2021 has been a year that has changed us all in a transcendental way. Companies closed, people lost their jobs, and many businesses took a hard hit in their finances. So much so, that there are still people still living the consequences of such an irregular year for the economy. 

At legalfacts.org we think that this is not right and that everyone deserves a second chance. So, we want you to know that there are alternatives, that you can get out of this, and that no matter what, there is hope for you. One of them is a legal alternative that will allow you to get a fresh financial start.

Bankruptcy is your chance to get rid of debt once and for all! Although this term has a bad connotation, don’t be convinced by the myths that surround it. The reality is that bankruptcy will take care of most of your unsecured debts so you can start building your finances again.

Experience

If you decide to file for bankruptcy, but you are unfamiliar with the laws surrounding this process, it may be a bad idea to do so on your own. An excellent bankruptcy attorney will have all the experience necessary to make your bankruptcy filing successful. In addition, a bankruptcy attorney knows the state laws and regulations inside and out, and will guide you through all the procedures.

Assess all your options

The extensive financial knowledge of an experienced bankruptcy attorney will allow him/her to diagnose your financial situation, and then determine what type of bankruptcy is best suited for your situation. You may want to get rid of your debts quickly, in which case the attorney will recommend chapter 7 bankruptcy. Or you may have a steady income and qualify for chapter 13 bankruptcy.

Protection from creditors

You may be receiving constant calls, and even visits, from creditors demanding payment of your debt. However, if your creditors know that you have an excellent bankruptcy attorney on your side, they will leave you alone immediately. Your attorney will make sure they stay away from you. He or she will tell you about the types of behavior that are considered abusive, and about the rights you have in your position. Once you file for bankruptcy, creditors are legally required to stop collecting on the debt.

Save your home or vehicle

If you are facing foreclosure proceedings, or if you are receiving threats to repossess your vehicle, hiring a bankruptcy attorney may be your best option to save those precious assets. The attorney will explain to you the options you have to have the best chance of keeping them. In addition, he/she will assist you in making lists of exempt assets, so that you do not make any mistakes during the procedure and end up losing something important to you.

Peace of mind

Retaining the services of an experienced bankruptcy attorney will make the entire process much easier. If you are going through a difficult financial time, you do not need to stress about legal procedures, when you can entrust it to someone who is much more experienced than you are in this field. Once you retain the services of an attorney, you can relax a bit, and then focus on rebuilding your finances with some peace of mind.


What Are The Benefits of Bankruptcy in Belmont, CA

First of all, the bankruptcy process may give you the peace of mind you deserve. Once you file for bankruptcy, creditors are legally required to stop harassing you to pay for the outstanding debts you have. 

Also, the main purpose of bankruptcy is to allow you to get rid of all those unsecured debts you have so that you can get a fresh financial start. However, you should know that there are secured debts that will still be present despite filing bankruptcy, such as certain taxes, child support, and student debts.

What Are The Different Types of Bankruptcy in California?

Chapter 7 Bankruptcy

Chapter 7 bankruptcy is the quickest type of bankruptcy. Involving the sale of assets to pay off your debt to your creditors. However, qualifying for this type of bankruptcy is the most important step and to do so you must complete a means together with a lawyer.

Once your petition is accepted, the court will appoint a trustee to sell your non-exempt assets.  Then, the trustee will distribute the money among your creditors to pay off your debt. 

Next, once your debts have been paid with the sale of your non-exempt assets, you will have to go through the bureaucratic processes required by the court to finally get your fresh financial start. However, if you do not like the idea of losing your assets, you’ll discover other options below: Chapter 13 bankruptcy and Chapter 11 bankruptcy.

Chapter 7 Bankruptcy

Chapter 7 bankruptcy is the quickest type of bankruptcy. Involving the sale of assets to pay off your debt to your creditors. However, qualifying for this type of bankruptcy is the most important step and to do so you must complete a means together with a lawyer.

Once your petition is accepted, the court will appoint a trustee to sell your non-exempt assets.  Then, the trustee will distribute the money among your creditors to pay off your debt. 

Next, once your debts have been paid with the sale of your non-exempt assets, you will have to go through the bureaucratic processes required by the court to finally get your fresh financial start. However, if you do not like the idea of losing your assets, you’ll discover other options below: Chapter 13 bankruptcy and Chapter 11 bankruptcy.

What Can A Chapter 7 Bankruptcy Attorney in Belmont Offer You?

To be sure that the filing of this type of bankruptcy is successful, it is ideal to have an experienced bankruptcy attorney who can make sure that the court’s requirements are as requested. In the case of California, there are excellent professionals ready to help you handle your case.

In addition, the attorney will be by your side to advise you every step of the way, making sure that creditors do not harass you after the bankruptcy filing and depending on the case, may even be able to make your case a “no-asset case,” which would allow you to lose nothing during the process.

Chapter 13 Bankruptcy

Through Chapter 13 bankruptcy, you do not have to worry about losing your assets, as this option is a process in which you make a financial restructuring to pay your creditors. All this, with the help of an experienced attorney.

However, this type of bankruptcy is called “wage earner’s bankruptcy” for a reason, you must have a stable income that allows you to demonstrate that you will be able to pay all outstanding debts. Therefore, it is recommended only for people with high salaries or small business owners.

Chapter 13 Bankruptcy

Through Chapter 13 bankruptcy, you do not have to worry about losing your assets, as this option is a process in which you make a financial restructuring to pay your creditors. All this, with the help of an experienced attorney.

However, this type of bankruptcy is called “wage earner’s bankruptcy” for a reason, you must have a stable income that allows you to demonstrate that you will be able to pay all outstanding debts. Therefore, it is recommended only for people with high salaries or small business owners.

What Can A Chapter 13 Bankruptcy Attorney in Belmont Offer You?

This type of bankruptcy requires a great understanding of finances and a lot of litigation experience, which is why a Belmont bankruptcy attorney is the best option for you. After evaluating your situation, this legal professional will know how to guide you through the entire bankruptcy process and the steps you will take next.

This lawyer will collect all the necessary paperwork that is requested for this type of bankruptcy and will make the whole process much easier for you, as this is usually a headache for all those who do not have experience in this type of case.

The attorney will make sure that the financial restructuring plan is appropriate for the case, making sure that you will be able to pay your creditors and still be able to pay your monthly expenses and live normally during this process.

Chapter 11 Bankruptcy

Chapter 11 bankruptcy, also known as business bankruptcy, is very similar to Chapter 13 bankruptcy. If you are the representative of a large business and are experiencing financial problems in your company, read on!

To simplify how it works, Chapter 11 bankruptcy works similarly to Chapter 13 bankruptcy in that the company will have to restructure its finances to progressively pay off its debts to stay afloat. The best part is, while you are going through this process, you can continue to run your business.

Chapter 11 Bankruptcy

Chapter 11 bankruptcy, also known as business bankruptcy, is very similar to Chapter 13 bankruptcy. If you are the representative of a large business and are experiencing financial problems in your company, read on!

To simplify how it works, Chapter 11 bankruptcy works similarly to Chapter 13 bankruptcy in that the company will have to restructure its finances to progressively pay off its debts to stay afloat. The best part is, while you are going through this process, you can continue to run your business.

What Can A Chapter 11 Bankruptcy Attorney in Santa Monica Offer You?

The finances of a large company are undoubtedly more complex and extensive, which is why the financial restructuring must be thoroughly supervised by an expert who can adequately plan the plan without compromising the financial future of the company.

In addition, it should be noted that federal bankruptcy law requires businesses to seek the services of an attorney when filing for Chapter 11 bankruptcy.

Is there a Bankruptcy Lawyer near me?