Oroville Bankruptcy Attorney

Skilled & Compassionate Bankruptcy Law Firm

Have you been adversely affected by the economic downturn? Have you suffered a sudden job loss, an underwater mortgage, a divorce or a major medical emergency? Contrary to popular belief, most people who file for bankruptcy do so for reasons completely beyond their control. In recent years bankruptcy has gone from being an obscure solution to a well-known debt relief solution that is even backed by our very own federal government. The question is do you qualify for bankruptcy?

If your bills are piling up and if you have no way to keep up with them, then it's a good time to examine your bankruptcy options. There is no shame in filing for bankruptcy and for many debtors the hardest part of the process is arriving at the decision to file in the first place. There is no sense in beating yourself up about filing for bankruptcy and we can tell you that your creditors will not take it personally if you decide to file for bankruptcy protection.

The first step in the bankruptcy process is taking the bankruptcy "means" test. The purpose of the means test is to determine whether or not your income qualifies you for a Chapter 7 (debt liquidation) bankruptcy or a Chapter 13 bankruptcy. If your income falls within the guidelines for the state of California, then you qualify for a Chapter 7. If you have a steady source of regular monthly income at a decent rate, then you may have to file a Chapter 13 (debt liquidation) bankruptcy instead, and this is not a bad thing.

While the Chapter 7 bankruptcy discharges unsecured debt such as credit card debt, medical bills, personal loans and certain taxes, the Chapter 13 bankruptcy arranges your debts into a payment you can comfortably afford, and these debts are paid off over 3 to 5 years. In the end, many people ultimately pay a fraction of their original debt, thus saving them a fortune in the long run.

Alternative Debt Relief Options

There are clients who come to our firm seeking out other debt relief services, services that don't include filing for bankruptcy. In addition to bankruptcy, we also offer collections defense, as well as foreclosure defense. For those debtors that have been a victim of creditor harassment, we can use debt litigation as a tool to get the creditor to abide by the law and leave you alone. When creditors violate what is called the Federal Debt Collection Practices Act (FDCPA), then debtors have legal recourse to file a lawsuit against the creditor for any violations they have committed.

In addition to collections defense, we offer other services that are targeted at controlling and minimizing the implications of out of control debt. Considering the fact that some people don't want to file for bankruptcy, we can assist them with alternatives to bankruptcy such as debt settlement, debt negotiation, and debt consolidation. Because everyone's situation is unique, it's impossible to assume there is a one size fits all answer to peoples' financial problems. For this reason, we take extra special care to closely evaluate our client's individual set of circumstances in order to determine the most reasonable and cost-effective solution for that person.

If you are facing the threat of foreclosure, then we strongly advise that you examine all of your options. These may include the possibility of a deed in lieu of foreclosure, or a loan modification or a short sale. Another good foreclosure defense is filing a Chapter 13 bankruptcy, so it's always a good idea to keep all of your options open.

Oroville Bankruptcy Lawyer

At The Law Office of Nikki Farris, we are a passionate law firm with several years of experience under our belts. As a family-oriented firm, we care deeply for our clients and their loved ones. Because the outcome of your case is so important to the livelihood and survival of your family, we are fully committed to finding the most powerful solution for you.

We are here to answer all of your questions about what bankruptcy can and can't do, as well as how the state and federal bankruptcy exemptions are designed to protect your valuable assets. Over our years of experience we can honestly say that we are proud to have helped countless individuals, couples and families find the debt relief they were searching for, and this is a good feeling. Helping people and their families is what we do best and we would be honored to explain to you how credit restoration is a conceivable and realistic possibility after a bankruptcy discharge.