Call us now and speak to a bankruptcy attorney about your legal options in relieving debt.
We have 27 years of unmatched experience handling bankruptcy cases for individuals facing high car payments, unmanageable home mortgages payments, credit card debts, and medical bills. Let us provide you with the assistance you need to address your financial matters.
Exclusively handling bankruptcy law makes us better. We’ve handled over 1,000 cases and have helped clients get free from the burden of debts. We know the laws and know the answers. No matter your financial situation, we’ve probably dealt with similar cases and when you retain our firm, you can feel confident that your case is in good hands.
Everyone’s financial situation is different and the best methods for dealing with the situation may vary. We can help you understand all of your options and the process involved. Whether dealing with an individual or a big corporation, we strive to give our clients the personal attention they deserve. Each case is important to us and every client is treated like our only client.
We take great pride in providing our clients with the utmost care and compassion. We know you have a lot of concerns and worries when filing bankruptcy. We focus all our energy addressing your concerns and worries and making you feel like family when you let us handle your case.
Bankruptcy is a complicated field of law that’s constantly changing. For this reason, we stay current with developments in all areas of bankruptcy law. We also have experience in family and divorce laws that might impact your case.
Every potential client that calls us can feel at ease in knowing that we’ll work with them, from start to finish. Once we evaluate your case and determine the best method for dealing with debt, we’ll begin preparing the necessary paperwork on your behalf to help stop or slow down a repossession of your car, home foreclosure, or wage garnishment. Our goal is to provide optimum results no matter your situation.
Our legal fees are flexible, clear, and affordable. We charge a flat fee so there are no hidden fees and you won’t get surprised with unexpected legal bills.
Running up credit card bills, paying friends or family and other fraudulent transfers just before a bankruptcy filing could lead to delay or denial of your case. We can help you identify problem areas in your bankruptcy case and help you understand common mistakes and how to avoid them.
We’ve helped many clients limit their home equity. There are special laws that govern home ownership in the event of a bankruptcy in San Diego. The limit of home equity is $75,000 if you’re a single person under 65 years. Conversely, the maximum of home equity that you can keep is $175,000 if you’re over age 65. Married couples can keep home equity of up to $100,000.
We respect the dedication of the brave service members and veterans. As such, we strive to say thanks for serving and making their lives a little easier when we can. We offer discounts to veterans and members of the military on active duty.
When you need more than just a lawyer, we will be the partner you can trust. Our team takes extra time to get to know our clients on a personal and friendly level. When you’re considering filing for bankruptcy, we’ll work with you to make critical decisions, prepare you for your court date, be in constant communication throughout the process, and ensure that your creditors are not harassing you.
We are very proud of the services we provide and how we help clients resolve their financial issues. Our office offers a complimentary, in-person, no-obligation consultation with experienced attorneys who can professionally advise you on your best course of action. Contact us today at 619-488-6168 to begin the journey to a fresh financial future.
What is Bankruptcy?
Bankruptcy is a legal process through which a person who is struggling to make payments on his/her debts and/or bills, is able to gain financial relief. The legal right to file for bankruptcy is a right provided by federal legislation, thus all bankruptcy cases in California are dealt with by the federal court system. Filing for bankruptcy not only provides you with long term relief, it also helps you gain breathing room in the short term, as filing for bankruptcy automatically stops creditors from attempting to collect any money you might owe, until your debt situation has been handled in court.
Advantages and Disadvantages of Declaring Bankruptcy
There are many advantages to declaring bankruptcy in California. Bankruptcy may allow you to eliminate most or even all of your debts, depending on your unique financial situation. Declaring bankruptcy may help you prevent the repossession of vital property in your life, such as your car or other motor vehicle. It may also help you stop foreclosure on your home, and stop debt collection services from harassing you and/or garnishing your wages. Also, as mentioned in the paragraph above, declaring bankruptcy will relieve you from any immediate debts, as the court system will issue you an automatic stay. Lastly, bankruptcy laws make it illegal for employers to discriminate against you for declaring bankruptcy, so doing so shouldn’t have a negative effect on your employment future.
However, nothing in life is without consequences, and there are certain drawbacks associated with declaring bankruptcy that one should be aware of before entering the process. Declaring bankruptcy will not eliminate all of your debts, such as your recent back taxes or fines currently owed to any government agencies. Also, filing for bankruptcy will have a negative effect on your future credit score. This may make it more difficult to secure a loan for a car or for a home in upcoming years. Additionally, your bankruptcy filing will have to made public record by law, meaning anyone can request a copy of your filings and examine the details of your bankruptcy. Lastly, shady credit lenders have been known to target people who have recently declared bankruptcy, so you may be targeted if you do end up filing for bankruptcy.
Types of Bankruptcy
In California, there are two basic kinds of bankruptcy available to people looking for financial relief: Chapter 13 and Chapter 7. Each of these two forms of bankruptcy is associated with certain benefits and drawbacks, depending on your unique financial situation.
Chapter 7 Bankruptcy
Chapter 7 bankruptcy, also referred to as liquidation bankruptcy, gives a person the ability to discharge their debts and gain a fresh start, if they meet the qualifications for Chapter 7. After filing your bankruptcy petition, you will be given a hearing date, usually within 1 to 2 months. At this hearing, a trustee will first make a decision on whether or not you qualify for Chapter 7 bankruptcy. While the process a trustee employs to make that decision is too complex to explain in full detail here, generally the decision is based on your active income. If you currently earn lower than the median income of Californians with households of a similar size, then you will be eligible for Chapter 7 bankruptcy. If you currently earn higher than the median income of Californians with households of a similar size, then the trustee will use a means test to determine your eligibility.
If you fully qualify for Chapter 7, then the trustee is granted the power to seize all of your assets and sell them to recuperate the losses incurred by your debts, except assets which are exempt under California law. Since California maintains relatively generous exemption laws, most people won’t have to give up important pieces of property, such as a house or a car. The money netted by the liquidation of your assets is then redistributed to your creditors in order to pay back as much of your debts as possible. Also, the trustee takes a small commission for handling the sale and distribution. Note that certain kinds of debt can’t be discharged through Chapter 7, such as child support, alimony, student loans, or a few other kinds of debt. Usually, a person filing through Chapter 7 is someone with substantial credit card debt, and not a lot of assets. For these type of people, Chapter 7 is a highly effective way of eliminating debt, in fact most people in this situation are able to have all of their debt eliminated within 3-4 months.
It costs a total of $306 to file for bankruptcy under Chapter 7 in the state of California.
Chapter 13 Bankruptcy
If you find that you aren’t eligible for Chapter 7 bankruptcy, then you can try and file via the Chapter 13 route. While Chapter 7 is a quick debt-relief option that allows you to discharge most or all of your debts within a period of a few months, Chapter 13 allows you to reorganize your debt over a much longer period of time, usually somewhere from 3-5 years.
Through Chapter 13 bankruptcy, you and the trustee assigned to you will conjointly create a plan to pay off most or all of your debt over 3-5 years, with the length of the plan depending on the amount of debt you have accrued. To qualify for Chapter 13 bankruptcy, you must maintain a source of regular income that can be used to repay your debts. This plan will obligate you to make monthly payments to the trustee, who will distribute this money to your creditors. If you follow the agreement and make all of your payments on-time, then the rest of your debt will be discharged at the end of the plan. The advantage of a Chapter 13 bankruptcy is that it can allow you to hold onto secured assets that might otherwise be liquidated through a Chapter 7 bankruptcy.
It costs $281 to file for bankruptcy under Chapter 13 in the state of California.
Note: There are two other forms of bankruptcy available: Chapter 11 and Chapter 12. However Chapter 11 is used almost exclusively by businesses, and is only used by individuals with very large debts and assets. Chapter 12 bankruptcy is reserved only for family farmers, and cannot be utilized by individual debtors.
How to File for Bankruptcy in California
The first step to filing bankruptcy in San Diego is to collect the required legal documentation. This includes your recently filed tax returns, a list of all your bank accounts, valid identification, proof of ownership of valuable assets, and evidence of your income stream. Next, before entering the bankruptcy legal process, you are required by California law to participate in a credit counseling service that has been approved by the California court system. This service will assist you in reviewing your financial predicament and help you decide if you want to pursue bankruptcy. This step is not optional, a failure to participate in credit counseling will result in your case being dismissed. The last step is to consult a bankruptcy attorney, who can guide you through the bankruptcy process. While some people do file for bankruptcy without legal help, the success rate for such cases is less than 1%.
We Understand Your Needs
The costs of living in San Diego and Southern California are higher than in most other parts of the US, and therefore, when financial hardships strike those living in our region, the effects can be felt that much more acutely.
If you lose your job, suffer a pay cut or demotion, suffer an accidental injury, are going through a divorce, or have simply been hit with unexpected expenses that are overwhelming you financially, bankruptcy may be a way to get a fresh start.
No one wants to declare bankruptcy, but when other measures fail and your financial situation becomes chronically impossible to manage - when you are buried in debt you could never reasonably hope to pay off; then, it's time to consider bankruptcy as an option.
At San Diego Bankruptcy Attorney, we can help you better understand California bankruptcy law and how it would apply in your specific situation. Bankruptcy may be able to eliminate your dischargeable debts, prevent wage garnishment or bank levies, save your home and/or car, and stop creditors' from bombarding you with collection phone calls.
We can help you weigh your options and make an informed decision on your best path forward financially.
Amy L. of Chula Vista
Filing with the local bankruptcy court was not something I had any experience in doing. But San Diego Bankruptcy Attorney stepped in and provided me with their expertise, guiding me through the whole filing process - and all the paperwork and legal technicalities that involves! - from beginning to end.
Cindy Z. of Carlsbad
It was bad enough when my vehicle was repossessed and I lost my only means of transportation to and from work - or anywhere else for that matter. But when I was handed a $4,000 bill for money I owed on the outstanding car loan, after losing the car and after the company had already sold it, that was unbearable. I went to San Diego Bankruptcy Attorney, and they guided me through bankruptcy, which was the only option left to me, and they secured me a workable arrangement.
David D. of San Diego
A lawsuit by one of my creditors was threatening and it looked like they would try to use "bank levies" to "garnish" my bank account. That would have taken the bread right out of my mouth and made my bills impossible to pay. San Diego Bankruptcy Attorney guided me through a bankruptcy that averted that kind of disaster and got me a fresh start financially.
John R. of San Diego
It was a difficult decision to file Chapter 13 bankruptcy, but with a home foreclosure looming, I had little choice. San Diego Bankruptcy Attorney helped me make the right decision and ensured the details of how I filed were to my maximum benefit.
Juan E. of San Diego
The complexities of taxes and bankruptcy were more than I could have hoped to wade through. I got assistance from San Diego Bankruptcy Attorney, and they enabled me to get the full benefits of bankruptcy but without any tax problems.
Michael A. of San Diego
Going through a bankruptcy and divorce simultaneously was incredibly stressful and filled with legal complexities and pitfalls. But San Diego Bankruptcy Attorney made the process as smooth as possible.
Rosa T. of San Diego
San Diego Bankruptcy Attorney secured for me ideal debt settlement relief in a timely manner. A lump sum payment of only 35% out of the thousands I owed was doable, but paying it in full was unrealistic, and my bankruptcy lawyer got me on my financial feet again.
San Diego Bankruptcy Attorney
Great bankruptcy attorney that will help resolve your matter. If you need someone experienced go with this law firm.
Tony F. of Escondido
With creditors getting ready to try to garnish my wages and repossess needful property, I was in a true financial emergency. San Diego Bankruptcy Attorney explained to me how a skeletal filing, for an emergency bankruptcy could help by getting the ball rolling and automatically creating a "stay" to prevent creditor actions. Thanks a million San Diego Bankruptcy Attorney!
We at San Diego Bankruptcy Attorney have extensive experience in all types of California bankruptcies and in all the various issues that often arise during bankruptcy, debt settlement, and related matters.
Here are some of our most important and commonly dealt with practice areas (but note that this list is exemplary and not exhaustive):
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San Diego, CA
At San Diego Bankruptcy Attorney, we stand ready to take your call for help. We have assisted many others in San Diego, Southern California, and beyond in getting out from under impossible debt and getting on their feet again financially. We can do the same for you.
Call us today at 619-488-6168 for a free, no-obligation bankruptcy consultation and immediate attention to your case.
Or, feel free to visit us for an in person consultation at our office located at:4556 Essex Court,
right here in San Diego.