Dean W. Feldman, Esq.
Cutler Bankruptcy Attorney
Chapter 7 Basics:
Chapter 7 Bankruptcy Basics in Cutler
Cutler, CA Chapter 7 Bankruptcy Lawyer
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Chapter 13 Basics:
Chapter 13 Bankruptcy Basics in Cutler
Chapter 13 Bankruptcy is very different from that of Chapter 7 Bankruptcy. Allowing the debtor to repay all and sometimes just a portion of their debt, Chapter 13 is regarded as a reorganization of their debt through the “payment plan.” Through the reorganization of the debt with Chapter 13 bankruptcy the debtor may protect assets that may otherwise be seized and sold in Chapter 7 bankruptcy.
The procedure is somewhat similar to debt consolidation, but for many unsecured debts, with some exceptions, the debts won’t accrue interest with Chapter 13 Bankruptcy.
The Chapter 13 payment plan will have the debtor making payments to the Bankruptcy Trustee for a period of three to five years. In order to qualify for Chapter 13 Bankruptcy, the debtor will need to demonstrate that he has enough income to make payments on the plan. The money collected on the plan by the Trustee is directed to the creditors.
With Chapter 13 Bankruptcy, the debtor is paying as much as they can pay into the plan over a three-to-five-year period of time. Upon completion of the payment plan period, if the debtor makes the payments through the period as required, you may expect the court to discharge the eligible unsecured debt that remains.
Income Taxes
Save Your Home from Foreclosure
If the debtor qualifies the Chapter 13 Bankruptcy may prevent the debtor’s home from being lost to a foreclosure. The debtor filing a Chapter 13 Bankruptcy is able to pay their over-due payments over the course of the payment plan.
Stop Car Repossessions
By filing Chapter 13 Bankruptcy you may be able to save your car from repossession. It’s sometimes possible to even have a car that was repossessed returned to you by filing a Chapter 13 Bankruptcy. Chapter 13 Bankruptcy may put the original loan agreement back in place and allow you to pay missed payments over the length of the repayment plan. Additionally, you may be able to pay only what the car is actually worth, thus, potentially saving you thousands of dollars.
Make sure that you schedule a time to talk with an experienced Cutler bankruptcy attorney who will be able to go over the many details associated with Chapter 13 Bankruptcy. Learn more by calling (559) 964-9800.
Affordable Cutler Bankruptcy Attorney
If you’re looking for an affordable bankruptcy attorney in Cutler, then call us now for immediate help with your debts. You’ll benefit from a financial fresh start through debt relief, and our bankruptcy law firm may save you thousands of dollars. Phone us now for your free consultation with a Cutler bankruptcy attorney today. We’ll start to work on your case with just a $100 retainer.
We accept easy payments at no interest to help with your financial recovery. Our law firm accepts payments at a pace that works best for you and with a schedule that you can afford. We provide professional bankruptcy services for the people of Cutler and the surrounding Area. Our services are tailored to meet the needs of our clients.Â
While you may have a number of choices when selecting a bankruptcy attorney our law firm will demonstrate itself to be your absolute best value. Providing clients with debt relief is the primary focus of our firm. We provide outstanding bankruptcy services while keeping our fees low.
(559) 964-9800
(800) 717-1383
We charge just $899 in attorney fees for most Chapter 7 bankruptcy cases in Cutler, California. If you’re wondering how to stop wage garnishments, or you’re just overwhelmed by debts and exploring your options, we offer a free assessment with a bankruptcy attorney. We’re available to assist you in determining whether bankruptcy is in fact your best option and whether you qualify to file Chapter 7 bankruptcy. NoWorriesBankruptcy.com is a bankruptcy law firm dedicated to helping those who are experiencing financial difficulties. Our goal is to wipe out your debt while making the bankruptcy process as trouble free and as easy as possible. With our law firm you are assured of having a truly affordable Cutler lawyer whose focus is in providing you with the best consumer bankruptcy services possible.
Our law firm proudly provides debt relief services at a discount for the men and women who serve our country in the military. We’ll reduce our rates for both veterans and those on active duty. We appreciate your service. When you contact us, please request our military discount. We support our troops and our country.
Keep in mind that people filing bankruptcy in the Cutler Area will need to attend a hearing at the Federal Bankruptcy Court. By retaining our law firm you may rest easy by being assured of having the representation of a professional bankruptcy attorney. We are strong advocates for our clients and we don’t back down to anyone. Our law firm takes the worries out of filing bankruptcy for our clients.
You will not find another bankruptcy lawyer in Cutler, CA working as diligently as our team to meet the financial needs of our clients. Call us now and discover how our law firm can provide you with fast and affordable debt relief.
What Best Describes Your Financial Situation?
Dean W. Feldman
Managing Attorney
FREE Bankruptcy Assessment
When you call our law firm you may look forward to having your call put through to an attorney. Our initial interview will be geared toward trying to determine whether we’ll be able to help you. Here are some of the questions you may expect from your attorney:
- Have you ever filed for bankruptcy before?  Because the law limits how often you can file Chapter 7 bankruptcy we’ll need to determine if you had filed before. If you had filed bankruptcy before we’ll need to know when you last filed and under what chapter you filed. Also, we’ll want to know precisely where in the United States you last filed bankruptcy. This is information that you may or may not know. There is no need to worry, however. Once we know the general region where you were living when you last filed bankruptcy, we’ll be able to find out through our resources exactly which district you filed in and the exact date that your bankruptcy was filed.
- Are you married or single? When determining the costs for our clients we’ll need to know whether they’re married or single. If you’re married your spouse is not obligated to file bankruptcy with you. It can sometimes be helpful for just one spouse to file bankruptcy. Though a spouse may not be filing bankruptcy you are still obligated to disclose information about your spouse to the court through the forms that get filed with your bankruptcy. Whether or not both spouses are filing bankruptcy there is substantially more work that’s required when a married person is filing bankruptcy than when a single person files.
- Do you own real estate? When a bankruptcy debtor either owns real estate or has previously owned real estate there are additional considerations that will be required in order to best counsel a person that is considering filing bankruptcy. In California, there are two sets of exemptions that may allow you to protect your assets. There are limitations to the amount of assets you may be allowed to hold on to when filing bankruptcy. If you are trying to protect your equity in the home you live in you may need to make difficult decisions regarding holding on to all of your vehicles. This is something that will be part of our discussion with you.
- How much rent are you paying? Ultimately, we’ll need to know in depth what all of your ongoing monthly expenses are. Eventually we’ll be disclosing to the court your expenses for such things as doing your laundry every month and your estimate for what you’re paying for entertainment.
- Are there judgments against you? Are there ongoing lawsuits against you? If there are judgments or lawsuits against you it will require additional research to obtain information that the bankruptcy court will require.
- Do you have any lawsuits or potential legal claims against anyone? If you have a legal claim against any entity that may result in an award of some asset the bankruptcy court will need to know. The consequences involved in this issue can be far-reaching and it’s something that you’ll want to discuss with us to find out more of what you may expect.
- How many cars, trucks, motorcycles and recreational vehicles do you possess? This will allow us to determine whether we’ll need to file additional documents with the court to work toward allowing you to keep your vehicles that you may want to hold on to. It’s possible, however, that you may just want to surrender a vehicle when you file bankruptcy so that you can discharge any expenses from the lease or loan. A discussion about your vehicles will provide us with further insight into your assets as well.
- What is your household income? This is one of the most important questions that are part of our initial assessment. We’re looking for you to providing us with a clear idea of your household income on the high end. Along with this question, we’ll need to know how many people are living in your household. Your household income and the number of people in your household is one determining factor regarding whether or not you’ll be able to file under Chapter 7 of the United States Bankruptcy Code.
- Do you expect to inherit any assets? If you’re in line to inherit property or money the bankruptcy court will expect you to disclose this information. All or a portion of the assets you inherit may be used to pay off some of your debts.
- What is the nature of your debts? Do you owe credit card companies? Do you owe on student loans? Do you owe child support? Not all debts can be discharged in bankruptcy. We want to be able to advise you what you can expect from filing bankruptcy. You will not want to file bankruptcy only to discover that you won’t be able to wipe out a debt that you were hoping to have discharged by the court.
Learn more by calling (559) 964-9800. In Cutler, California we’re the best law firm for Chapter 7 bankruptcy.
Creditor Meeting With Your Attorney
What to Expect at the Creditor Meeting in Cutler
The creditor meeting is going to take place between 20 and 40 days after your bankruptcy is filed with the court. You and your attorney are obligated to attend the meeting. Most creditor meetings are just a required formality to go over several basic issues with the debtor and can take less then five minutes to complete. However, some creditor meetings can last much longer and might continue over many more days. The first thing to remember, however, is to bring your Social Security Card and a government-issued photo identification card. Failure to bring either of these will result in your having to return to a second creditor meeting.
The meeting is an opportunity for the trustee to ask you questions under oath to confirm:
- You’re who you claim to be
- The documents that were filed on your behalf are accurate
- You don’t have additional assets that were somehow excluded in the documents filed with the court
Expect the bankruptcy trustee to ask most of the questions to you and not your attorney.
Here are some of the questions you may expect the trustee to ask you. The trustee may or may not have many more questions beyond these dependent your case, your documents and how you answer the questions.
- Have you reviewed and signed all of the documents before they were filed? It’s of the utmost importance that you review all of the documents that are being filed on your behalf to confirm that they’re accurate. If you have any questions about anything you should ask your attorney before you sign the signature pages. The bankruptcy trustee will ask you whether all of the information in the bankruptcy documents are correct or whether any changes need to be made.
- How did you determine the value of your assets? The trustee may ask you how you determined the value of your house, your business, your car or any other asset you possess. Determining the value of your assets can sometimes be complicated. The trustee has the ability to send out his own expert to appraise the value of any given asset. The trustee may ask for photographs of the classic car you possess that you claim is a junker. If the assessed value by the trustee’s appraisal is different than yours it may have far-reaching consequences. Never “low-ball” the estimated value of your assets. Underestimating the value of your assets can lead to major problems. Further, your attorney will not be able to provide good counsel when you don’t provide truthful information.
- Do you expect to inherit any money or property? The trustee will explore the possibility that you may be inheriting money or property from someone that has died or may be dying soon. Those assets that you inherit may result in the trustee seeking to seize all or a portion of those assets. Be sure that you discuss this issue fully with your attorney before you file bankruptcy.
- Do you have any ongoing law suits or legal claims that you could bring against anyone? If you or your spouse are suing anyone or any entity you must disclose this to your attorney before you file bankruptcy. Even if your law suit wasn’t filed with a court but you have a legal claim that you could bring against someone or some entity the trustee will ask you about this. The trustee may try to seize the assets or all that you may obtain through your claim. The trustee may seek to have your legal claim settled for an amount that’s far less than what you believe it’s worth. Therefore, it’s extremely important that you discuss this issue fully with your attorney before you file bankruptcy. In fact, your filing bankruptcy may ultimately be a very costly mistake.
- Are there any creditors present? The trustee will ask whether there are any creditors present that will be there to ask you additional questions. In most situations, creditors don’t show up to creditor meetings. But there is the possibility that they will.
This outline of what you may expect to be asked is not intended to be a complete list of everything that you may be asked at the creditor meeting. Learn more of what you can expect by calling us now to talk with an attorney today at (559) 964-9800. In Cutler, California we’re the best law firm for Chapter 7 bankruptcy. We’re determined to make your bankruptcy go as smoothly as possible.
Stop wage garnishments
Stop wage garnishments & lawsuits with the automatic stay
Once your bankruptcy petition is filed with the court it will operate as an automatic stay. There are exceptions to this so you should discuss this fully with an attorney to learn what you may expect. However, in most cases, the automatic stay will apply and will result in stopping many legal proceedings against the bankruptcy debtor. In most cases, it will stop creditors from seizing assets of the debtor at least until the creditor petitions the bankruptcy court seeking an order for relief from the automatic stay.
If you have ongoing wage garnishments or expect wage garnishments to start soon the automatic stay will likely stop those garnishments. There are limitations, however, to what you may expect when you file bankruptcy. If the bankruptcy petition that you filed was the second one filed during the previous 12 months than your automatic stay will be in place for a reduced period of time. You should confer with an attorney on the details associated with this issue.
To best avoid having your wages garnished you should work with an attorney and plan your bankruptcy well in advance to avoid any problems.
Learn more by calling (559) 964-9800. Make sure that you schedule a time to talk with an experienced Cutler, CA bankruptcy attorney who can give you clear ideas on rebuilding your credit in a manner that’s tailored to your personal needs.
Rebuild Your Credit Score
Take Back Your Life!
Filing bankruptcy will likely result in a substantial decrease in your credit score. In many cases, however, the debtor’s credit score is already as low as it can go due to things like missed mortgage payments and non-payment for credit card debt.
It’s also possible that filing bankruptcy may improve your credit score because of the fact that most if not all of your unsecured debt will be wiped out and the debtor is prevented from filing again for a number of years. So many lenders may regard you as a good credit risk post-bankruptcy. It’s strongly advisable to begin working on improving your bankruptcy immediately after filing.
In order to rebuild your credit you must indicate the ability to handle credit in a very responsible manner. In a nutshell, this means that you must pay your debts on time.
Checking Credit Reports
Check your credit reports and when you see inaccurate entries be sure to dispute them. Because not all creditors report issues to all of the credit reporting agencies you must review reports from all three of the major agencies. You should secure reports from Experian, Equifax and Trans Union. Free credit reports are available from Creditkarma.com, AnnualCreditReport.com, and FreeCreditReport.com. Look for accounts that are listed on your credit report that are not yours. Look for any inaccurate information in the report. For tips on making corrections to your credit report you should go to the Federal Trade Commission website. Usually the credit reporting agencies are very good about fixing mistakes. They ought to be because they can be sued for their mistakes.
Making Payment On Time
Paying your bills on time goes a long way toward fixing your credit. It may seem like a simple step but it can quickly make a huge difference. In fact, paying your bills on time is likely the most important you can do to improve your credit score.
Pay recurring bills, such as rent, telephone and utility bills, in full and on time. To be on the safe side, if a payment is due on the first of the month, pay it by the 25th of the previous month. Consider setting up automatic payment deductions from your bank account for these payments to make sure you do not miss any of them.
Setting up automatic payments from your bank account can help assure your making timely payments. Take the time to figure out how to do it. Have an agent from the bank walk you through the steps to set it up if necessary.
Seek Out & Secure Lines of Credit
In order to establish good credit you need to seek out credit opportunities. After filing bankruptcy you will likely find lenders standing in line to extend lines of credit. You need to take advantage of those offers and demonstrate your ability to handle your finances in a responsible manner. Avoid applying for lines of credit where you are likely to be rejected. A rejection from a creditor may hurt your credit score. Be selective when applying for any lines of credit. And don’t apply to several at once. When you apply for a line of credit a hard inquiry is produced. Having a lot of such inquires may lower your credit score because you may appear to be a bad credit risk.
Make sure that you schedule a time to talk with an experienced Cutler, CA bankruptcy attorney who can give you clear ideas on rebuilding your credit in a manner that’s tailored to your personal needs. Learn more by calling us now at (800) 717-1383. In Cutler, we’re the best law firm for Chapter 7 bankruptcy.