Bankruptcy Debt Relief
What is bankruptcy debt relief?
Debt relief is the forgiveness of debt. Bankruptcy debt relief is the total or partial forgiveness of debt through the legal bankruptcy process. Bankruptcy debt relief is also the stopping or slowing of debt growth. Chapter 7 bankruptcies and Chapter 11 bankruptcy are the most common bankruptcies used to bring debt relief.
Chapter 7 bankruptcy is liquidation bankruptcy. A chapter 7 debtor is unable to repay back its debts. Filing for debt relief under Chapter 7 bankruptcy, allow the debtor to eliminate its unsecured debts while protecting some of its assets.
A Chapter 11 bankruptcy is business reorganization. A Chapter 11 bankruptcy gives the debtor some time to negotiate and repay its debts.
They are other bankruptcies, for example Chapter 15, Chapter 12 for famer of fisherman, or Chapter 13. Chapter 13 bankruptcy is individual debt adjustment. All these bankruptcy debt reliefs apply to specific cases and you should consult an attorney specialized in bankruptcy debt relief in order to find out which case applies the best to you.
For a free 1/2 hour consultation with our expert bankruptcy debt relief Contact Christie Lee Law Office today about bankruptcy debt relief or give us a phone call 209-910-5291
What is Chapter 7 bankruptcy debt relief?
Chapter 7 bankruptcy is the most common form of bankruptcy. Chapter 7 bankruptcy debt relief is the fastest to way to get out of unsecured debts. Unsecured debts are often debts that have been paid with credit cards. For example utility bills, medical bills, some personal loans, IRS debt. Some debt under chapter 7 bankruptcy cannot be discharged. For example debts for fines or penalties, alimony, student loan from for-profit and non-governmental agencies, homeowner association. For a complete list of non-dischargeable debts please consult an attorney specialized in bankruptcy debt relief. Dischargeable debts can be discharged in a few months and give you a new financial start. Your bankruptcy debt relief attorney will help you to figure out which debts can be relieved and which debts cannot under Chapter 7 bankruptcy. Learn more about Chapter 7.
Call us if you are looking for bankruptcy debt relief .
What is Chapter 11 bankruptcy debt relief?
Chapter 11 bankruptcy is more for business. Learn more about business bankruptcy. Chapter 11 bankruptcy debt relief gives the debtor a breathing spell. An automatic stay is issued. An automatic stay is a temporary injunction to all creditors to stop all collection efforts. The debtor protection is automatic. During this period, the debtor can start debt negotiations with its creditors. Usually a Chapter 11 debtor has many creditors and it is difficult and time consuming for the debtor to negotiate with all the creditors. Chapter 11 attorneys are able to help you for the debt relief and the debt negotiations.
What is Chapter 13 bankruptcy debt relief?
Chapter 13 bankruptcy is individual debt adjustment. It is also called individual debt consolidation, or repayment plan. Chapter 13 can be only filed by individuals. Chapter 13 bankruptcy debt relief is for people that have problems with their mortgage payments, property taxes, or non dischargeable debts. Chapter 13 is for people that have disposable income to reorganize their debts and repay their creditors within 3 to 5 years. Chapter 11 may be filed instead of chapter 13 if the debtor is not an individual or the debt exceeds the cap for Chapter 13 bankruptcy. Chapter 13 bankruptcy debt relief attorneys can force creditors to accept plans and obtain debt relieves that allows you to keep your properties and assets. Learn more about Chapter 13.
Want to find out more about bankruptcy debt relief?
We give 1/2 hour free consultations – flexible scheduling
If you would like a free 1/2 hour consultation with our expert bankruptcy lawyer Contact Christie Lee Law Office today or give us a phone call 209-910-5291. Our office is conveniently located and open, 8:00am to 6:00pm. If you would like a weekend appointment, simply call and set one up. We are flexible with our schedule and most importantly want to get your problems resolved.
We have years of experience helping people file for bankruptcy under the US Federal Bankruptcy Law.
We primarily service clients in the Northern California region with our office in Stanislaus County. Many of our happy clients include residents from