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The Benefits of Bankruptcy
Life After Bankruptcy
Bankruptcy
Alternatives to Bankruptcy
Automatic Stay in Bankruptcy
Bankruptcy Benefits
Bankruptcy Exemptions
Bankruptcy Myths
Bankruptcy Timeline
Chapter 13
Chapter 7
Credit Card Debt
Creditor Harassment
Discharging Your Debt
Foreclosure Defense
Life After Bankruptcy
Loan Modification
Means Test
Medical Bills
Qualifying for Bankruptcy
Repossession
Servicemembers' Civil Relief Act
Short Sales
Strategic Default
Wage Garnishment
Why Hire a Bankruptcy Attorney?
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Bankruptcy Lawyer in Irvine

Areas of Bankruptcy

Bankruptcy is an important decision and should not be made lightly or without properly informing oneself. The aggravation one experiences on a day-to-day basis from threatening creditors, mounting bills, possible foreclosure or repossession can create such stress it can affect one's physical and mental health to a degree that it can make it seem impossible to cope with the situation. Contacting an Irvine bankruptcy attorney can be the first step to ending the insanity. If you are considering bankruptcy, read on.

Chapter 7
Chapter 7 is the most common form of bankruptcy. If eligible, one can experience a discharge of debt within months of filing with the bankruptcy court. It can be a way to clear past debt and start fresh. It is a more serious form that is for those in significant debt.

Chapter 13
Individuals not eligible for Chapter 7 who wish to protect certain assets may be eligible for Chapter 13 bankruptcy. Also referred to as reorganization it allows one to restructure their debt and repay it over a period of several years. This is used by those that have a reliable form of income and who would be able to make a payment if it was reduced.

Means Test
Not everyone is eligible for bankruptcy and in the past, dishonest individuals have used bankruptcy as a way to escape their obligations. There were no standards by which the bankruptcy court measured eligibility. The means test is a solution to those problems.

Bankruptcy Benefits
Bankruptcy is often viewed in a very negative light as it represents struggle and overwhelm. There are, however, many benefits to bankruptcy. The relief experienced from the discharge of debt is one, but there are others, including the ability to start over and eventually begin rebuilding your credit score.

Life After Bankruptcy
Bankruptcy can serve to conclude a difficult time in a person's life. Many have found it impossible to imagine what life would be like following a bankruptcy or they see it as a dark and miserable conclusion. In fact, there is life after bankruptcy and it can be quite enjoyable.

Bankruptcy Exemptions
The misconception that you will lose all of your assets if you file for bankruptcy prevents many people from informing themselves about this legal and viable option to the resolution of substantial debt. What seems to be unknown by many is that there are exemptions in bankruptcy that may allow you to keep important assets.

Bankruptcy Timeline
The timeline for bankruptcy proceedings from beginning to completion can vary depending upon the type of bankruptcy that you choose. Included in all forms of bankruptcy is counseling or education services concerning debt and credit. Bankruptcy can take as little as 3 months or as much as 7 years.

Qualifying for Bankruptcy
Not everyone who wishes to file for bankruptcy is qualified to do so. Government guidelines and laws outline what circumstances qualify one to file for bankruptcy.

Bankruptcy Myths
Negative associations with bankruptcy have resulted in misconceptions and false ideas that prevent people from understanding what this legal prerogative is intended to do for the consumer. It is important to sort out the facts from the lies and truly understand what bankruptcy is.

Alternatives to Bankruptcy
Just as not everyone is qualified for bankruptcy, not everyone chooses this option. For those who don't wait too long and act to find out what options are available to them, they discover there are things that can be done to resolve their financial troubles.

Automatic Stay in Bankruptcy
You don't have to wait until the conclusion of your bankruptcy case to enjoy the benefits of bankruptcy. The moment you file your petition in court, you will be protected from wage garnishment, repossession and even foreclosure by an automatic stay against further adverse creditor actions.

Creditor Harassment
Credit collection agencies are a fact of life. Their job can undoubtedly be challenging. They must follow certain restrictions when pursuing repayment of debt and if they cross those lines legal action can be taken against them. You have rights, no matter what your debts are.

Loan Modification
A mortgage can be a large payment that thousands of people are finding impossible to make. A loan modification allows the chance to work with the bank to find an agreeable resolution. This can make payments more affordable, reduce the principal balance or even avoid late fees. Find out if this is an option that works for you.

Foreclosure Defense
Foreclosure is a legal option for a lender when a mortgage goes into default. Lenders have many restrictions about the actions they can take and under what circumstances they can take them. As evidenced by the disaster created by banks and mortgage lenders, their practices have not always been honest. There are ways to defend yourself against foreclosure and it is important that you know them.

Discharging Your Debt
The final step in a bankruptcy proceeding is normally the discharge of debt. It is a court order that relieves you of responsibility in repaying any remaining debt. It can bring about tremendous relief and mark the beginning of a new future.

Credit Card Debt
When individuals, families and businesses get caught in a tough financial situation they can fall back on credit cards as a temporary solution. When this gets out of control it can be quite overwhelming to face. The future can appear hopeless. There are available legal options when credit card debt threatens your future.

Medical Bills
Illness and injury can rapidly escalate medical bills and before you know it you are buried. Worry and anxiety over how to repay these bills can slow recovery from an already stressful situation. There are solutions.

Repossession
When payments on an asset become delinquent, a lender can take legal action to repossess the asset. This can apply to property, vehicles and other assets. It may seem hopeless but there actions you can take to stop repossession.

Servicemembers' Civil Relief Act
Through this act, a number of benefits are given to members of the military that are currently on duty. This can aid in their financial debts to put proceedings on hold or delay against penalties.

Short Sales
If you owe more on your mortgage than your home is worth on the real estate market, an attorney from the firm may be able to help you find a way out of the mortgage by negotiating with the bank for a short sale, which would allow you to sell the property at the highest price it will fetch so that you can move on in life.

Strategic Default
Have you considered simply walking away from your mortgage? If you are one of the millions of California homeowners with an underwater mortgage, it may be time for you to default on your loan so that you can quit devoting a large percentage of your income to an investment which will not produce a return any time soon.

Wage Garnishment
It can be quite a blow when you already face heavy financial burdens to find a single creditor has garnished your wages. It can send one into apathy quite easily. A better solution is to take action and get legal help.

Why Hire a Bankruptcy Attorney?
Many people engulfed in debt never consider getting help from a bankruptcy attorney because they feel bankruptcy is not an option for them. It is not always realized that an experienced bankruptcy attorney will also know when bankruptcy is not the correct step and they can advise on other legal options open to you. If you are looking for an Irvine bankruptcy lawyer who can help you, then our firm is just for you.


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