Paradise Bankruptcy Lawyer

Is bankruptcy right for you?

The state of California was hit hard when the real estate bubble burst, leaving countless residence struggling with an underwater mortgage and thousands more out of a job. If you have been hit with a stroke of bad luck, you are not alone. In recent years millions of Americans have found that they had no other choice but to file for bankruptcy protection. Bankruptcy, no longer a dirty little word has now become a household name, an acceptable and reasonable solution for out of control debt. If you are currently in a position where you can't afford to keep up with your monthly expenses, then it's a good time to gather information about bankruptcy and your alternatives to bankruptcy. A Paradise bankruptcy attorney from The Law Office of Nikki Farris is here to provide you with an answer to the question, "Do I qualify for bankruptcy?"

At The Law Office of Nikki Farris, we have been helping individuals and couples file for bankruptcy in Paradise for two generations. Our commitment to helping people find optimum and workable answers to their financial problems is unparalleled. Whether you are seeking a strong collections defense so you can become free of creditor harassment, or if you are seeking out a foreclosure defense so you can save your home, we can assist you either way. We can explain what bankruptcy can and can't do, as well as how we can use the state or federal bankruptcy exemptions to protect your valuable assets.

Chapter 7 & Chapter 13 Bankruptcy

By far the majority of consumers file either a Chapter 7 or a Chapter 13 bankruptcy. In order to find out which bankruptcy you qualify for, you must first take the bankruptcy means test. This is a very simple test that can be performed in a matter of minutes. If your income falls below the income guidelines for a Chapter 7, then you automatically qualify. If your income is above the income guidelines for the state of California, then you will have to consider filing a Chapter 13 bankruptcy instead.

With both a Chapter 7 and a Chapter 13 bankruptcy you get to enjoy the relief you get from the "automatic stay." The automatic stay halts all debt collection activities for the duration of the bankruptcy. This means that bankruptcy puts a stop to repossessions, wage garnishments and all other types of debt collection efforts.

With a Chapter 7 bankruptcy certain unsecured debts are discharged or otherwise wiped out. These include: medical bills, credit cards, utility bills, personal loans, and certain taxes (older than 3 years). With Chapter 7 bankruptcy you cannot discharge child support payments, spousal support payments, student loans, and court ordered fines or victim restitution.

With a Chapter 13 debt reorganization plan your debts are arranged into a bankruptcy repayment plan that is paid off over a period of 3 to 5 years. How much you are ultimately ordered to pay off will depend upon your financial ability to pay off your debts within the 3 to 5 year time frame. Some people wind up paying off a fraction of what they originally owed.

Debt Relief Options

Discharging your debt through bankruptcy can offer you much needed stress relief and it can make you that much closer to working towards credit restoration; however, bankruptcy isn't the right choice for everyone. Perhaps your home is in foreclosure or threatened by foreclosure, if this is the case it's a wise idea to consider your alternatives to bankruptcy. While bankruptcy, especially Chapter 13 can be a powerful and effective foreclosure defense, it isn't for everyone and we respect this fact. In addition to bankruptcy services, we can also help those whose situations warrant a short sale, or a deed in lieu of foreclosure or a loan modification. Since everyone's individual circumstances vary widely, it will be necessary for us to meet with you in person in order to go over all of your options.

Paradise Bankruptcy Attorney

In addition to the above services, we are also formidable debt litigation attorneys. This means that if you are a victim of creditor harassment or if your creditors violated any of the provisions in the Fair Debt Collection Practices Act (FDCPA), then you may have grounds for a lawsuit against your creditor. We also offer a number of services aimed at finding a solution to your debt and finding you debt relief including: debt counseling, debt consolidation, debt settlement and debt negotiation. Whatever your situation is, we have the legal knowledge and tools to address the situation head-on in an efficient and cost-effective manner. Once you get a handle on your situation, you can breathe easier knowing that there are brighter days ahead and things are only going to get better from there. Contact us at The Law Office of Nikki Farris for superior legal services that you can count on.

Paradise Resource Links

Bankruptcy Information Center
Town of Paradise
Map of Paradise