Bankruptcy Lawyer Downtown San Diego

1

INDEX
Bankruptcy Attorney San Diego
California
Bankruptcy Lawyer San Diego
California
Bankruptcy Lawyer Downtown San
Diego
San Diego California
Bankruptcy Attorney
Photo Gallery
03
04
05
06
07
Our Services
Bankruptcy Attorney
Downtown San Diego
San Diego California
Bankruptcy Lawyer
2
08
09
10

Many people struggling with debt in the San Diego
California area are now considering bankruptcy as a
way to eliminate those debts and obtain relief.
For those who are not legal experts or experienced in
the practice of bankruptcy law, the different options
and path to relief can oftentimes feel overwhelming.
3

The complexity involved starts with the lengthy and
cumbersome laws dealing with bankruptcy. The U.S.
Bankruptcy Code involves page after page of legal
descriptions, mandates, and rules that apply to many
different situations. While some of the code applies to
all bankruptcies, parts of the code only apply one or
another chapter within the code.
4

One of the different chapters within the U.S.
Bankruptcy Code is 7. When someone files for
protection under this section of the code, it is often
referred to as a Chapter 7 bankruptcy.
5

In contrast to other chapters within the code, Chapter
7 exists to help those who are suffering from too much
debt, and do not have the income capacity to
restructure debts or work out a plan with
creditors. San Diego Bankruptcy Attorney can stop
creditors from harassing you and can even save your
home.
6

Bankruptcies filed under Chapter 7 have to meet
several requirements before a federal bankruptcy
judge will approve the petition.
For example, there are income requirements that a
person must meet, and if he or she does not, then a
different chapter of the code would likely be better.
7

If you want free analysis of your legal case
then bankruptcy lawyer San Diego will be your best
option. In addition to income requirements, Chapter 7
bankruptcies involve the risk of losing property. In
contrast to a Chapter 11 or 13 filing, Chapter 7
petitions often put up all of the debtor’s possessions
for liquidation by the court.
8

9

There are exceptions to what property will be sold as
a result of the petition, and those exceptions will vary
by state.
As a result, California has its own rules for those filing
for Chapter 7 bankruptcy.
10

One of the key reasons why Chapter 7 petitions can
be helpful is that it allows a debtor to list all of her
debts and have most of them discharged.
11

This allows a debtor who is in over his or her head to
have a fresh start and try to reach financial
independence going forward. But discharge can be
complicated by the types of debt involved, facts of
the case, and whether all of the rules pertaining to
bankruptcy have been followed.
12

Another purpose of a Chapter 7 petition is to treat
creditors fairly and evenly.
Because Chapter 7 petitions typically end in a
discharge of all debts, no one creditor is paid while
another is left fighting for what is left over.
13

In typical cases, the estate containing the assets of
the debtor is accumulated and liquidated and the
remains are split between creditors through a court
appointed trustee.
Restore your financial independence with our
experienced team of Bankruptcy Attorney San Diego.
At the Bankruptcy Law Center we help those
struggling with debt find relief through the laws found
in the Bankruptcy code.
14

If you are struggling with debts and facing the
prospect of filing for bankruptcy, consider contacting
us.
San Diego Bankruptcy Lawyer will help you
understand what your options are, and help you with
a path forward.
15

Bankruptcy is a term that most people, lawyers and lay
people alike, understand.
To the average person, bankruptcy means a fresh start
financially in which a person’s debts are discharged,
and he or she starts over after relinquishing rights to
much of his or her valuable properties. Once the
conversation turns to different chapters of bankruptcy,
however, the details become a bit less clear.
16

Within the United Bankruptcy Code there are several
different kinds of bankruptcy chapters, each
representing a different approach to clearing a person
or business’s debts. The primary chapters for
individuals filing bankruptcy are Chapters 7 and 13.
Each of these chapters has different options and
aspects that appeal to different types of debtors.
17

When contemplating whether filing for bankruptcy is
a good idea for you, it is best to have a general sense
of what each chapter under the Bankruptcy Code
means. One of the most common types of bankruptcy
is a Chapter 7 filing, and it may or may not be the
right type for you. If you want free analysis of your
legal case then bankruptcy lawyer San Diego will be
your best option.
18

A typical Chapter 7 bankruptcy filing allows a debtor
to declare his or her debts, and discharge most of
them. This allows a debtor to walk away from debts,
but it also means giving up some important
assets. For those seeking bankruptcy protection who
are also seeking to preserve their assets, Chapter 13
may be a great option.
19

Bankruptcy under Chapter 13 allows a debtor to
restructure debt through a plan submitted to the
court overseeing the bankruptcy petition.
In a typical case, a debtor will list income and debts,
and come up with a proposed plan for the court to
approve or deny.
20

Then payments are made over a three to five year
period. After the payment plan is done, the debts are
gone.
San Diego Bankruptcy Attorney can stop creditors
from harassing you and can even save your home.
21

22

The history of the Chapter 13 bankruptcy goes back to
the late 1970s. Bankruptcy itself has been evolving in
this country and England since the late 1400s, and
during the 1970s Congress saw that there was a need
for the kind of bankruptcy that allowed both the
debtor and creditor to win.
23

The purpose behind a Chapter 13 bankruptcy is to
ensure that a person can retain some of his or her
most important assets, while making good on paying
back some debts. In addition, the creditors win
because they are allowed to collect on some of the
debts they are owed, which do not then represent a
complete loss.
24

25