Filing for Bankruptcy?
Speak with Our San Mateo Bankruptcy Attorney First
At the Law Offices of Gary Brenner, our team has been assisting individuals with finding effective solutions to their debt crises since 1983. Whether through filling Chapter 7 or Chapter 13 bankruptcy, or other debt reduction measures, our experienced San Mateo bankruptcy attorney can provide the skilled legal counsel you need to get out of your debt dilemma and back on solid financial ground.
The Basics of Bankruptcy in California
Chapter 7 and Chapter 13 bankruptcies are two options for discharging debt. Although the final mechanisms for debt relief are different, both processes begin essentially achieve the same result. Regardless of which type of bankruptcy you intend to file, our supportive San Mateo bankruptcy lawyer can guide you through the entire process of filing for bankruptcy, including:
- Analyzing your debt
- Completing bankruptcy petition forms
- Automatic stay enforcements
- Bankruptcy trustee judgments
- Creditor's meetings
Chapter 7 Bankruptcy
Often referred to as a liquidation bankruptcy, Chapter 7 allows you to cancel many (sometimes all) of your debts and start fresh. The insightful team at the Law Offices at Gary Brenner can help you determine if Chapter 7 bankruptcy is the right choice for you.
Some of the benefits and pitfalls of filing this type of bankruptcy include:
- Simplified process, usually taking about four to six months to complete discharge your debt, and in most cases only requiring one trip to the courthouse.
- The incomes of individuals and businesses who apply must be below a federally mandated threshold.
- Business and individuals who have received a bankruptcy discharge within the past six to eight years may not be eligible.
- Nonexempt property could be surrendered to a creditor in lieu of cash
- If you are behind on your payments on a secured debt, such as your home mortgage, the trustee may allow your property to be foreclosed or repossessed. However, if you are current on your payments, you may be allowed to keep the property and keep making payments.
- In the end, all debts, except those deemed nondischargeable, will be wiped out by the courts.
Chapter 13 Bankruptcy
In Chapter 13 bankruptcy, you are required to pay back all or a portion of your debts over a three-to-five year period. If your debt burden is too high or the court is not convinced you will be able to meet the obligations of your repayment plan, you may not qualify.
Often referred to as a reorganization bankruptcy, our experienced bankruptcy attorney can detail the pros and cons of Chapter 13 restructuring, which generally include:
- Individuals may be able to retain possession of all their property
- Possibility of stripping additional liens on your home or other property
- Upside-down loans may be reassessed to reflect current market value
- Monthly payments must be made for a designated period
- All unsecured debts may not be completely eliminated
Learn Your Debt Relief Options in a Free Consultation
At the Law Offices of Gary Brenner, we sympathize with the pressures that result from overwhelming debt, and we are committed to providing efficient and prompt service to help you ease your financial burdens swiftly. At your free initial consultation, we can assess the nature of your outstanding debt and describe the avenues available to you. Bankruptcy is not always a viable or the most beneficial option for debt reduction. In those circumstances, we can assist you with implementing alternative debt relief measures.
Our compassionate team is committed to providing comprehensive debt relief that extends past a bankruptcy filing, including offering free credit repair services for our bankruptcy clients.
Our skilled and reliable attorneys can provide you with the personalized assistance and aggressive representation you need! Contact us today to begin rebuilding your financial future!