Bankruptcy Attorney in San Diego
Bankruptcy is a process where consumers and businesses can eliminate or repay some or all of their debts, while under the protection of the federal bankruptcy court. Attorney Jorge Halperin is here to guide you through this process, and help you understand the important decisions you’ll have to make. For additional information or to schedule your FREE initial assessment, call us today at 619-709-3187.
Understanding Chapter 7 bankruptcy
Bankruptcy protection is in place to guard you against collection agencies, wage garnishments, bank levies, foreclosures and repossessions. The court will issue a state-wide order, protecting you from any creditor aiming to garnish wages, repossess your vehicles, etc.
In cases where you are not faced with collections, but simply cannot sustain your debt due to factors such as credit cards, medical bills, personal loans, repossession deficiency, or car loan deficiency, we can help.
If you’ve been in default for a long period, or are near foreclosure or car repossession, we can help.
If you are a traditional, middle-class family struggling with any of the situations described above, Chapter 7 bankruptcy may help you receive the protection you need, and to begin the climb out of debt. Let Attorney Jorge Halperin be your guide. Contact us today to get started.
Is Chapter 13 bankruptcy right for you?
Chapter 13 bankruptcy grants you a set period of time to resolve your arrears. We can propose a payment plan to the courts over the course of 3-5 years, after taking into account certain details such as your disposable income.
Chapter 13 bankruptcy differs from Chapter 7. It requires you to make payments based on your income, and is geared towards wealthier individuals and professionals who are no longer eligible to file Chapter 7.
Various criteria must be met in order to file for Chapter 13 bankruptcy. You must persuade the court that you have sufficient disposable income to propose your own plan to repay your debt.
If you cannot propose a reasonable plan, the court will not grant your request.
Chapter 13 bankruptcy allows lien striping of junior liens in the debtor’s principal residence when the value of the property is lower than the outstanding balance of the first lien. It also offers the opportunity to use cramdown debt management tactics, reducing the principal balance of a debt to the value of your property.
In a typical lien striping action the junior lien will be treated as an unsecured debt and paid in part through the plan. Similarly, car cramdown splits the pay off into both secure and non-secure payments leaving the unsecured portion to be paid in part too.
Get professional assistance with reorganization, restructuring, paying down debts, and abolishing debt through repayments from Attorney Jorge Halperin today. Call us at 619-709-3187 for more details.