Debt problems in San Diego? A bankruptcy attorney holds the answer you are looking to find to your monetary recovery.
Financial problems prevail in the current economy much more than many imagine. Most are out of work, they have received a surprise medical bill, their marriage goes up in flames, or they are crippled by mountain-high credit card debt. Whatever the reason, too many people and families are sinking into financial obligations they cannot handle. When you are on the hook, perhaps it is high time to talk to someone. A Bankruptcy attorney in San Diego can guide you on how to work off or get rid of your debt using legal means and rediscover tranquility.
At the Bankruptcy Law Offices of Mark L. Miller, we have seasoned lawyers with track records of assisting thousands of clients through the seemingly tricky process of getting through the bankruptcy process with pride and self-esteem. They take note of the pressure you are going through and provide clear, customized solutions.
The concept of Bankruptcy
In the U.S., there exist two major types of personal bankruptcies, each of which has a different application based on your financial condition.
Chapter 7 Bankruptcy: Destroy Debt and Start Again with Pride
It will allow them to pay most of the unsecured obligations like credit card debt, personal loans, and medical bills. Anyone will be allowed to keep some important possessions, including their car and house, depending on the state exemptions, in most cases.
Best For:
- People who have minimum or zero disposable income.
- Individuals who cannot pay their debt in any sort of plan.
Chapter 13 Bankruptcy: Putting Your Debt in Order by Affordable Repayment Plan
This is the choice that enables you to restructure your debts and pay them in three to five years under a repayment plan, which would be approved by the court. It is an acceptable solution in case you have a stable income and do not want to liquidate such assets as your house or car.
Best For:
- People who default on their mortgage or car payments.
- Individuals with good assets who would like to protect them.
An experienced attorney in bankruptcy practice in San Diego will analyze your finances and suggest completing your bankruptcy under a chapter that fits the circumstances.
Reasons why you need a San Diego bankruptcy lawyer
Decisions made in the process of making a bankruptcy may end up being fruitless.
Local Knowledge
California bankruptcy policies have their own exemption policies and proceedings. An attorney based in San Diego knows the rules and the courts in the area, thus giving you an upper hand in your case.
Shielding of Creditors
As soon as your lawyer files your case, an automatic stay is implemented, which means that collection emails/calls, foreclosures, garnishments of wages, and lawsuits will no longer occur.
Higher Approval Rates
According to statistics, the success rate when the client of a bankruptcy lawyer is represented is even higher as compared to those who are represented on their own.
Myths on Bankruptcy
Unfortunately, the subject of Bankruptcy attorney San Diego is obscured by prejudice and falsehoods. You know, it is time to dismiss some of the most extensive misconceptions:
Myth 1: I have been a failure after declaring bankruptcy
Reality: Bankruptcy is a legal instrument that was devised in order to provide someone with a second chance. Bankruptcies have been experienced by even the best-at-it businesspeople and even celebrities, with much repetition ending off even stronger.
Myth number 2: I am going to lose everything I have
Reality: A majority of individuals retain most or all of their estate, courtesy of exemptions, as provided under the law of California.
Myth number 3: My credit is dead and gone forever
Reality: Bankruptcy can appear on your credit report for a decade or more, although a great many rise to the occasion to begin re-establishing their credit in less than a year through the use of secured cards and sound money management practices.
The Life After Bankruptcy
Bankruptcy does not have to be the finish; it can be the beginning. Some can recover fast, repair their credit, and become stable financially in a matter of two years. You can:
Take out a secured card
- Spend less and avoid debt obligations.
- You can stop being a paycheck-to-paycheck person.
- Consider loans with cheaper interest rates as time passes by.
But the greatest thing is that you will feel emotionally free as you will be back in control of your finances. Resolving bankruptcy issues in San Diego with an attorney working on bankruptcy, the way towards lasting recovery can not only be planned but also empowered.
What to Expect of the Bankruptcy Process?
- Consultation: Visit your attorney and tell him your financial status.
- Document Gathering: Hand in documents of income, debt, and assets.
- Filing: Your lawyer presents your bankruptcy petition in the court.
- Automatic stay: The collection has to be halted by the creditors.
- 341 Meeting of Creditors: a short meeting that the court has with you to chat about the finances.
- Release of debt: Under approval, it will discharge or rebuild the approvable debts.
Throughout this process, your lawyer will be with you so as not to risk leaving out some steps and as a way of ensuring all the paperwork is filed and defended adequately.
Final Thoughts
Your future should not be characterized by debt. With favorable legal assistance, one may get rid of stress immediately, safeguard property, and have a fresh future. A Chapter 7 bankruptcy attorney in San Diego will save you the reasonable legal coverage and resolution of the issue you deserve.
Bankruptcy Law Offices of Mark L. Miller is at your service when you need advice on Chapter 7 or Chapter 13.
FAQs
What are the fees charged for hiring a bankruptcy lawyer in San Diego?
The majority of the bankruptcy lawyers, such as those in Bankruptcy Law Offices of Mark L. Miller, base their pricing on a flat fee basis. On average, Chapter 7 is expected to range between 1,000 and 2,000 USD as compared to Chapter 13, which is costly as it is involved. Normally, there are free consultation opportunities.
Is it all lost when I apply for bankruptcy?
None whatsoever. The majority of filers retain valuable properties such as property, vehicles, and others using the California exemptions. Your attorney will assist you in defending the important things.
What is the duration of the bankruptcy procedure?
It will require 3-6 months to be completed in an average Chapter 7 case. In a Chapter 13 payment plan, a 3-5 year duration is involved. A professional lawyer may facilitate the entire case in a short time.
