Carson Bankruptcy Attorney
When legal problems arise, people turn to lawyers to advise them of their options. It is no different when confronting financial difficulties that can result in loss of a home, car and other assets. Carson residents facing financial turmoil can turn to a Carson bankruptcy attorney for possible solutions at 310-904-6179.
A Carson bankruptcy attorney can advise you on how bankruptcy works. A Chapter 7 can cancel unsecured debt like credit cards, department store bills, medical bills and some tax obligations. Chapter 13 allows individual Carson debtors risking loss of a home or car or non-exempt property to retain them while repaying creditors over time. And a Chapter 11 can offer protection to corporations, LLCs and partnerships who want to restructure their operations.
Talk to a Carson bankruptcy attorney today to see if bankruptcy is the proper direction for your financial situation. A Carson bankruptcy attorney will meet with you personally and give you an honest assessment of how a bankruptcy might benefit you.
Chapter 7 Bankruptcy
Debtors and businesses with overwhelming debt can have unsecured debt wiped clean. Secured debt can be reaffirmed, redeemed or returned with no further obligations. To qualify to file, a Chapter 7 bankruptcy attorney will compare your income and household size to the state median. If too high, the Chapter 7 bankruptcy attorney can usually get your disposable income below a certain level.
Your Chapter 7 bankruptcy attorney prepares your petition listing all secured and unsecured debts, contracts and licenses, household expenses and values of your assets to match available exemptions. Some non-exempt assets can be converted to exempt but talk to your Chapter 7 bankruptcy attorney or you may want to consider Chapter 13.
After a short meeting with the bankruptcy trustee, take a short financial management class arranged by your Chapter 7 bankruptcy attorney. About 4 to 5 months after filing, you will receive a discharge of unsecured debts.
Chapter 13 Bankruptcy
For individuals only, this is a wage earner’s plan whereby a Chapter 13 bankruptcy lawyer prepares a prepayment plan listing all debts and amounts owed. You do need sufficient disposable income to meet the plan requirements. If approved by the trustee, you make a single monthly payment to the trustee over a 3 or 5 year period to creditors based on priority. Secured debts are paid in full. The plan can include arrearages in mortgage payments, student loans, alimony and car loans. A Chapter 13 bankruptcy lawyer can review your income and debts to see if the plan is feasible.
Carson debtors who would lose valuable assets in a Chapter 7 can retain all assets in this filing. If you encounter a problem in payments, your Chapter 13 bankruptcy lawyer may be able to revise it. Talk to a Chapter 13 bankruptcy lawyer about how this plan can benefit you.
Chapter 11 Bankruptcy
Large businesses including corporations facing severe shortfalls and losing confidence can seek protection under Chapter 11. This filing requires a Chapter 11 bankruptcy lawyer to file a disclosure statement to creditors outlining how the company plans to change tactics to return to solvency. The Chapter 11 bankruptcy attorney follows up with a reorganization plan for 
confirmation by impaired creditors and equity holders. If the plan is confirmed, or even “crammed down” by the court, the business owners continue day-to-day operations and with the approval of the court, break contracts and negotiate new ones, sell off assets and find new financing.
Small Carson businesses can be fast-tracked with the help of a Carson bankruptcy lawyer that may save considerable time.. Individuals who are ineligible to file under Chapter 7 or 13 can file Chapter 11 as well. Talk to a Carson bankruptcy lawyer if you are considering filing.
Call a Carson bankruptcy lawyer today at 310-904-6179 for any questions about how to get started on the path to a new beginning for you or your business.