Life is hard enough right now. Get the financial relief you deserve. Filing for bankruptcy may be the best option for you and your family.
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Benefits of Filing For Bankruptcy
Overwhelming debt can take a toll. Ignoring or avoiding the trouble can result in garnished wages and a grim credit score. Although not for everyone, choosing bankruptcy means taking control of the situation and getting your financial record back on track.
We can help you decide if Bankruptcy is right for you. Our bankruptcy attorneys are dedicated to your success and helping you through the process with compassion and respect. We can work together to put a stop to creditor harassment and find the relief you need.
Benefit of Chapter 7 Bankruptcy
Chapter 7 is often referred to as “liquidation bankruptcy,” because a Trustee may choose to liquidate certain non-exempt assets such as a fancy paid-off car or a vacation home to pay off some of the debt. You must also meet income eligibility requirements.
Chapter 7 is the most powerful option because regardless of your assets, it will discharge most unsecured debt, including credit cards, personal loans, medical debts and many tax obligations in as little as three to four months.
After filing Chapter 7 bankruptcy, people generally find themselves in a better credit situation than when they began. Chapter 7 allows you to begin to rebuild your credit and financial future immediately.
Since knowing the extent and reach of the Trustee’s power to liquidate non-exempt assets is crucial before filing for Chapter 7 protection, retaining an experienced bankruptcy attorney for such purpose is the best course of action.
Benefit of Chapter 13 Bankruptcy
Chapter 13 is often referred to as a “wage-earner’s plan” because it allows you to eliminate your debts through repayment plans over a period of three to five years as your personal income allows.
Even in cases where a debtor’s non-exempt assets require payment of all the debt, Chapter 13 makes each and every creditor prove the validity of any debt to be paid through a claim-assertion process.
As with Chapter 7 bankruptcy, you’ll have to meet certain criteria, such as having a regular income that will permit you to make monthly payments.
Chapter 13 allows you to repay your debts while protecting your assets, and eliminates any portion of general unsecured debts not entirely paid within the plan’s required period.
Common Reasons For Filing Bankruptcy
- Stop creditor harassment and collection calls
- Eliminate credit card debt
- Erase additional unsecured debts, such as medical debts, and many older tax debts
- Improve your credit
- Avoid foreclosure and eliminate liens on property
- Elimination of most debts over time, with repayment of merely a fraction of each
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Need debt relief and wondering if filing for bankruptcy is right for you? Please contact us to schedule your free consultation and visit our Frequently Answered Questions page for more information from our expert legal team.
The Law Offices of Jeffrey Lohman, P.C. is considered a debt relief agency pursuant to federal law. We are attorneys who help people file for bankruptcy relief under the Bankruptcy Code.
Estate &
Probate Law
Consumer
Protection Law
Consumer Protection: A death in the family is a difficult time which can bring unforeseen complications, interruption of daily life, and strain on relationships if no proper estate planning was done. With or without a will, a dispute over inheritance, medical debt, or unclear responsibilities of an executor can lead to California Probate Court.
California Probate Court Process
The California probate court process can be overwhelming and lengthy without proper guidance from an estate and trust attorney who specializes in probate law. Outside of sending out formal notices, organizing assets, bills and real estate, multiple documents must be correctly filed with probate court to adhere to state codes.
In some cases, litigation may arise from disputes within a family after a loved one dies. In the case of will contests, the removal or appointment of executors, and/or the distribution of the probate estate, it would be wise to hire a probate attorney to help you file a lawsuit.
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Avoiding Probate in California
Probate isn’t always necessary if you proactively create a smart estate plan. Working with one of our estate planning attorneys, you can create a legally-binding process to take care of your assets and help avoid unnecessary expenses of probate after death. This process considers:
Will Planning
Power of Attorney
Medical Directives
Irrevocable or Revocable Living Trust
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