Santa Cruz Bankruptcy Lawyer – Help Is Here
Are you financial difficulties? Thinking about filing for bankruptcy? A Santa Cruz Bankruptcy lawyer will be able to help in a time when you need it most. Handling all aspects of bankruptcy, a Santa Cruz Bankruptcy attorney will provide you with the legal methods for you to wipe out your debts. They will explain the main reasons and applications of bankruptcy law and how they function. A bankruptcy lawyer from your city can give you the fresh start you need.
With five different chapters of bankruptcy to choose from, you can find a way to end your debt. Just because you are filing bankruptcy does not mean you lose everything you own. There are also Chapters 9, 11, 12, and 13. These are plans that deal with debtor rehabilitation which involves court-approved plans and payment schedules.
Known as “straight bankruptcy”, Chapter 7 is what most people think of in terms of filing for bankruptcy. It is simply a liquidation of all assets. The money is then used to pay off debtors of all outstanding debts. A Santa Cruz attorney who specializes in bankruptcy has other solutions that might fit your case as well.
A chapter 9 is a federal process for resolving municipal debts. This includes cities, villages, towns, school districts and counties. Chapter 11 is similar to Chapter 9 except that it is for commercial businesses. The business is allowed to keep running while repaying its debts to its creditors.
Chapter 12 gives much needed relief to family farmers. Your Santa Cruz attorney can submit a debt relief plan that is stretched out over three years. If this is not long enough, the court can approve an extension up to five years.
Chapter 13 gives much needed debt relief to both consumers and individuals. Usually the most favored of chapters, Chapter 13 lets you keep your most valuable assets like houses and cars. Unlike Chapter 7, not all of your assets are liquidated. The plan of action for Chapter 13 is considered at a confirmation hearing and is either disapproved or approved.
If you are facing foreclosure, repossession, liens, or lawsuits, a Santa Cruz Bankruptcy lawyer can help. They can guide you through the process and decide which path is best. An experienced Santa Cruz Bankruptcy attorney can give you the information you need to clean up your debt. They know what unpaid bills can be eliminated, what you can keep, and any other details about the bankruptcy. A Santa Cruz Bankruptcy lawyer is there for you.
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