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
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
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
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 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