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Bankruptcy Attorneys in Riverside, CA

In Legal Facts you will find all the most up-to-date information related to all kinds of legal issues. Especially about bankruptcy. Our main goal is to educate people so that they are able to make important financial decisions.

We only work with attorneys who are ready to put their expertise to work for their clients. Therefore, our team is composed of legal professionals of the highest caliber. Ready to guide you every step of the way.

Here are some of the bankruptcy basics of Riverside, California.

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What is the Fresh Start Program?

Has 2020 been a financially difficult year for you? If that’s the case, you should know you’re not alone. Our Riverside bankruptcy lawyers are ready to help you get a fresh financial start.

Some dismiss bankruptcy as a viable option for getting rid of debt. That once you declare it, you will lose the opportunity to have a fresh financial start. The truth is, you can legally clean up your debt and get a fresh start.

If you feel like you’re drowning in debt and you’ll be paying interest for the rest of your life, no matter what the reason you took on the debt, no one deserves to live with that incessant stress in their life. Take advantage of the opportunities the law gives you to get out of debt, bankruptcy can be the way out of this difficult time in your life.

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 Riverside

Californians enjoy many advantages when filing for bankruptcy, due to certain aspects of the law in the state. One such benefit is that when you file for bankruptcy, you will be given two separate lists of assets that you can exempt from the process altogether, meaning that you will not have to sell them to pay off your debts.

Keep in mind that you must choose one of the two lists you are given, analyze very well the assets you want to keep. Having a bankruptcy attorney will help you make the right decision.

California is also home to some of the best bankruptcy lawyers you will find in the United States. Take advantage of the opportunity to get a fresh financial start with the best legal advice you can find.

What Are The Different Types of Bankruptcy in Norwalk, California?

Chapter 7 Bankruptcy

Chapter 7 bankruptcy is ideal for you if you want to get rid of debt as quickly as possible.In this Chapter, your non-exempt assets will be liquidated to pay the debts. This process is handled by a trustee appointed by the court to manage those assets. The proceeds of this will go to your creditors to pay your debts.

Many people don’t like this option, that’s a fact of life. Of course, no one wants to sell their belongings under these kinds of circumstances. But if you want to clean up your debts as quickly as possible, this is your best option.

Keep in mind that you will NOT lose everything. Far from it, you will be able to exempt some of your assets and in fact, your most precious possessions, such as your main car or your house, are automatically exempt from the procedure.If you don’t want to risk selling your things, you still have two other options. Chapter 13 and Chapter 11.

Chapter 7 Bankruptcy

Chapter 7 bankruptcy is ideal for you if you want to get rid of debt as quickly as possible.In this Chapter, your non-exempt assets will be liquidated to pay the debts. This process is handled by a trustee appointed by the court to manage those assets. The proceeds of this will go to your creditors to pay your debts.

Many people don’t like this option, that’s a fact of life. Of course, no one wants to sell their belongings under these kinds of circumstances. But if you want to clean up your debts as quickly as possible, this is your best option.

Keep in mind that you will NOT lose everything. Far from it, you will be able to exempt some of your assets and in fact, your most precious possessions, such as your main car or your house, are automatically exempt from the procedure.If you don’t want to risk selling your things, you still have two other options. Chapter 13 and Chapter 11.

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

Only one thing can greatly facilitate the process of filing for bankruptcy, hiring an attorney with years of experience in these types of proceedings.

A Riverside bankruptcy attorney will help you prepare all the necessary paperwork to be sent to the bankruptcy court. The court will then appoint a trustee to handle the sale of your non-exempt assets. The attorney will be by your side every step of the way and will advise you on what to do to lose as few assets as possible.

Chapter 13 Bankruptcy

Chapter 13 bankruptcy is tailored for people who earn a steady income or for small businesses, allowing them to pay off their debts without having to sell their assets. The court will ask you to restructure your finances, and together they will develop a payment plan to pay off your debts. Please note that if you do not comply with this payment plan, your non-exempt assets will be sold to pay off the remaining debt.

If you feel you have the financial stability to meet a payment plan, perhaps this is the ideal bankruptcy chapter. You must demonstrate the financial ability you have in order to apply for this chapter.

Chapter 13 Bankruptcy

Chapter 13 bankruptcy is tailored for people who earn a steady income or for small businesses, allowing them to pay off their debts without having to sell their assets. The court will ask you to restructure your finances, and together they will develop a payment plan to pay off your debts. Please note that if you do not comply with this payment plan, your non-exempt assets will be sold to pay off the remaining debt.

If you feel you have the financial stability to meet a payment plan, perhaps this is the ideal bankruptcy chapter. You must demonstrate the financial ability you have in order to apply for this chapter.

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

Every bankruptcy case is unique. Therefore, it will involve different technicalities that must be overcome in order for the filing to be successful and for you to get rid of your debts once and for all. The opinion of an experienced professional is invaluable in this type of situation.

Therefore, consulting with an attorney to establish a course of action to properly discharge your debts is one of the best things you can do during your bankruptcy process. 

If you hire a bankruptcy attorney in Riverside, you will receive the legal advice you need to know how to proceed without losing your assets.

Chapter 11 Bankruptcy

Chapter 11 bankruptcy is tailor-made for large companies. That is, if you represent a large, even multinational organization, this is the type of bankruptcy you should file.

In this Chapter of bankruptcy, both you and the company will keep all of your assets. You can even continue to manage your business while paying your debts through a reorganization plan. If you fail to make your payments on time, your assets may be liquidated to pay the rest of your debt.

Chapter 11 Bankruptcy

Chapter 11 bankruptcy is tailor-made for large companies. That is, if you represent a large, even multinational organization, this is the type of bankruptcy you should file.

In this Chapter of bankruptcy, both you and the company will keep all of your assets. You can even continue to manage your business while paying your debts through a reorganization plan. If you fail to make your payments on time, your assets may be liquidated to pay the rest of your debt.

What Can A Chapter 11 Bankruptcy Attorney in Riverside Offer You?

Due to the complexity of Chapter 11 bankruptcy, having the services of an attorney experienced in this type of situation is important to ensure that your business can survive the process.

The financial reorganization is unique in each case, everything will depend on the debts that the business has, and in order for it to remain operational and lose the least amount of assets after the bankruptcy case, an attorney is a necessity.