Apple Valley Bankruptcy Attorney

Are creditors calling you with threats of civil action unless you immediately pay on a debt? Are you getting calls at work that are upsetting you and interfering with your ability to do your job? Or, have you lost your job, experienced a major medical emergency and falling behind on your mortgage?

If you live in Apple Valley, then call an Apple Valley bankruptcy attorney at 760-498-3989 to discuss bankruptcy as a possible means to rid your life of stressful debt and possibly save your home or business.

An Apple Valley bankruptcy lawyer can explain the bankruptcy process and how a Chapter 7 can erase unsecured debt like credit cards and medical expenses. A Chapter 13 can save your home from foreclosure and keep your small business running. Larger businesses and corporations can use Chapter 11 to reorganize and take the appropriate steps to return the business to profitability.

But Apple Valley consumers and businesspersons need to call an Apple Valley bankruptcy lawyer now at no cost to see if bankruptcy is the right option for you and what your next steps need to be.

Your Apple Valley bankruptcy lawyer handles these types of bankruptcies:

Chapter 7 Bankruptcy

The most common type of bankruptcy is a Chapter 7. Business entities, individuals and couples can file for protection through their Chapter 7 bankruptcy lawyer from creditor actions such as lawsuits and any collection activities including seizure of assets.

Apple Valley residents with primarily consumer debt who are seeking Chapter 7 relief must pass a means test to determine if their income is lower than the median income in California for their household size. If it exceeds that, your Chapter 7 bankruptcy lawyer can still assess your eligibility if you have enough disposable income to at least pay off some of your unsecured debt.

After your petition is filed, you and your Chapter 7 bankruptcy lawyer will attend a meeting with the trustee. If there are amendments to be made or information is needed, then your Apple Valley bankruptcy lawyer can handle this for you.

You will have to attend a very brief debt education class that can be held in the office of your Apple Valley bankruptcy attorney before you file and a short financial management class before the discharge of your case.

Chapter 13 Bankruptcy

Chapter 7 can be used by sole proprietors and some partnerships that wish to stay operating and by Apple Valley debtors who are in arrears on their mortgage, car loan or debts that are non-dischargeable in a Chapter 7. Your Chapter 13 bankruptcy lawyer can discuss with you how a Chapter 13 can help you. A Chapter 13 can also allow you to retain non-exempt property that you might lose in a Chapter 7.

If your income exceeds the median income for your household size and your disposable income after deducing certain expenses exceeds certain limits, then you can still use Chapter 13 protection. Chapter 13 is a wage earner’s plan so you need a reliable source of income to repay your creditors over a 3 or 5-year period. Your Chapter 13 bankruptcy lawyer can review your finances and draft a repayment plan for you that can include payments to become current over time with your mortgage or car payments.

Similar to a Chapter 7, you will have to complete both a debt education class and financial management course that can be arranged by your Apple Valley bankruptcy lawyer.

Talk to your Chapter 13 bankruptcy lawyer about how small business owners can have non-priority unsecured debt erased upon discharge from a Chapter 13 filing. The balance of some secured debts can also be reduced to their market value. Discuss the benefits of this type of filing with a Chapter 13 bankruptcy lawyer.

Chapter 11 Bankruptcy

Chapter 11 filings are usually handled by experienced Apple Valley Bankruptcy attorneys because of their complexity. Under this chapter, corporations and other businesses, including individuals with large debts, can restructure their finances under a court-approved reorganization plan that your Chapter 11 lawyer can help draft. This can include re-negotiating leases and contracts to modify terms as well as selling off assets or laying off employees so that it may continue operating. The business will have to show profitability over time. Small businesses can fast-track through a Chapter 11, a process that your Chapter 11 lawyer can explain.

Call an Apple Valley bankruptcy attorney at 760-498-3989 for any questions about how bankruptcy can work for you.