Filing for Bankruptcy in San Diego
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Bankruptcy comes in several different forms to meet people's specific financial needs.
Chapter 7, Chapter 11, and
Chapter 13 all serve to eradicate one's debts, but the way in which they do so
differs from one type to the next. As such, the filing process is slightly
different for each. If you intend to file for Chapter 7, you will need
to complete a "means test," which determines whether your financial
hardship is actually severe enough to warrant filing for bankruptcy. If the
means test is passed, you are required to file a petition for bankruptcy with a court,
and then meet with your various creditors so that the terms of your bankruptcy
are understood by all parties. Any disputes your creditors have with the
discharge of your debt are taken up at this meeting and in future meetings
until the dispute is resolved. Once the meeting is complete, the discharge
of your debt will take place roughly 75 days after.
Call (888) 875-9190 for more than 10 years of experience on your side.
free case evaluation today.
If your bankruptcy petition is accepted for a Chapter 13 filing, you attend
a similar creditors meeting, but in this meeting the topic of discussion
is the debt payment plan you have agreed upon with your creditors, as
worked out by the bankruptcy court. Monthly payments are made towards
your various debts until such time as those debts are fully satisfied,
at which time they are discharged and your bankruptcy proceedings are
complete. The Chapter 13 payment plan typically takes a number of years
to complete. If you require further information on bankruptcy, or assistance
in filing your petition with the court, then contact a
San Diego bankruptcy attorney.
Filing for bankruptcy provides individuals with numerous benefits, including
but not limited to:
- Fresh credit score
- Lower monthly payments
- No creditor harassment
- Financial freedom
Are you in need of information regarding bankruptcy?
San Diego Legal Pros has provided effective help to many clients suffering
financial hardship due to overwhelming debt. We understand how frightening
it can be to carry a substantial debt load, and the negative feelings
that can come as a result, including that of being trapped. Our goal is
to provide options that allow our clients to free themselves from such
debt, and restart their lives in healthier financial circumstances. We
tailor our practices to the specific needs of each client because we understand
that no two situations are alike. If you are considering bankruptcy because
of your financial situation, contact our offices today for a consultation
where we will determine if it is the right option for you.
Are you considering filing for bankruptcy?
Contact a San Diego bankruptcy attorney
who can provide you with the information you need to make a decision that
is right for you.